Fiscal Policy Paper
Fiscal Policy Paper
ECO/372
Muhammad Bashir
October 6, 2014
Fiscal Policy Paper
Over the past week of class Team C has been discussing the effects the U.S.’s deficit, surplus and debt has had on the tax payers and future Medicare users of our great nation. While the United States is often considered one of the greatest countries in the world, why is it so difficult to get a grasp on our social security plan and our healthcare system?
Unfortunately a system that was originally supposed to be helpful to people when they got older and could no longer work became what some considered to be their retirement plan. Employers have begun to think that it is not their issue to assist their employees in retirement or even cannot afford to help. Our country’s debt currently sits at $ 16, 787, 451, 118, 147, it is extremely hard to look at this number and think that we will be able to have the benefits that we will pay into our entire working lives. After our team discussion one thing was clear, we need to plan for our own future if we would like to stop working at some point in our life and live the rest of our days comfortably. While some of us have the generosity of some great employers who believe in the importance of an employee having the opportunity to retire is of high importance, not everyone is as lucky. Another reason the Social Security and Medicare issues need to be resolved is so we can continue to care for our disabled Veterans and other disabled citizens in our country, these are some of the most important reason these programs were designed; to be helpful to the people who need it. Unfortunately there are always individuals who abuse the system and are collecting money they should not be collecting.
The truth of the matter is that a deficit can cause taxes to rise and a surplus can cause taxes to decrease. When taxes increase, people spend less money on other things such as their retirement plan. There are many things that can lead to inflation and
ECO/372
Muhammad Bashir
October 6, 2014
Fiscal Policy Paper
Over the past week of class Team C has been discussing the effects the U.S.’s deficit, surplus and debt has had on the tax payers and future Medicare users of our great nation. While the United States is often considered one of the greatest countries in the world, why is it so difficult to get a grasp on our social security plan and our healthcare system?
Unfortunately a system that was originally supposed to be helpful to people when they got older and could no longer work became what some considered to be their retirement plan. Employers have begun to think that it is not their issue to assist their employees in retirement or even cannot afford to help. Our country’s debt currently sits at $ 16, 787, 451, 118, 147, it is extremely hard to look at this number and think that we will be able to have the benefits that we will pay into our entire working lives. After our team discussion one thing was clear, we need to plan for our own future if we would like to stop working at some point in our life and live the rest of our days comfortably. While some of us have the generosity of some great employers who believe in the importance of an employee having the opportunity to retire is of high importance, not everyone is as lucky. Another reason the Social Security and Medicare issues need to be resolved is so we can continue to care for our disabled Veterans and other disabled citizens in our country, these are some of the most important reason these programs were designed; to be helpful to the people who need it. Unfortunately there are always individuals who abuse the system and are collecting money they should not be collecting.
The truth of the matter is that a deficit can cause taxes to rise and a surplus can cause taxes to decrease. When taxes increase, people spend less money on other things such as their retirement plan. There are many things that can lead to inflation and