National Debt
Similar to many other economic downturns, during the Great Recession of 2007-2009, unemployment rose and aggregate income declined. In turn, it caused a major decline in tax collections. On the other hand, with the rise in unemployment, government spending on safety net programs rose.
Therefore, to stabilize the national economy, the government appears to have two key options (neither one being perfect). The first one is to put in place severe austerity measures (i.e., to cut spending). The second one is to increase borrowing.
Some would argue that it is difficult to defend cuts in the federal government programs and especially the programs geared to sustain the minimum standard of living for the poor. The other would say that the increase in borrowing (i.e., an increase in budget deficit) has major adverse impacts on the national economy.
Assignment Instructions:
Write an essay discussing the above and analyzing the current situation with the national debt in the U.S.
Your paper should be structured as follows and address the questions below:
Cover page
(on the cover page, add the title of your paper, your full name, the course title, instructors name, the schools name, and the date)
1. Introduction
2. Briefly summarize the key theoretical views on the national debt: Keynesian and Classical.
3. Discuss the long-run costs of having high national debt.
4. Discuss the pros and cons of eliminating budget deficit:
4.1. solely through a personal tax increase
4.2. solely through a cut in spending via a decrease in transfer payments (Social Security, Medicare, and Medicaid, etc.) and a decrease in discretionary spending (such as defense and education budgets, for example).
5. Conclusion
References
Sections 3 and 4 are the main sections of your paper.
Make sure to break your paper down into sections and title each of the sections of your paper, including the introduction and conclusion.
Do NOT include an abstract since it is mostly used in serious research papers, publishable papers, dissertations, etc. rather than in short student papers.
Please note that the best practice in academia is to use at least 3 sources in each of your essays. Such sources as Wikipedia, Investopedia, Study.com, etc., should NOT be used in your paper because they are not peer-reviewed and, therefore, might not be accurate or credible enough.
Complete your essay in a Microsoft Word document in APA, 7th Edition format.
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
