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Examining The Budget Deficit In America: Concepts, Causes, Facts

798 words - 3 pages

I believe that to understand the problem of budget deficit we need to understand the concept of fiscal policy. The most important source of government revenue is taxes. Government collects taxes from individuals, corporations, firms, and etcetera. Other source of receipts can be profits of the state enterprises and the firms selling the goods and services. In the USA they are not so numerous, but in the Western Europe and in developing countries have a little bit greater value: in Venezuela, for example, the oil sector belongs to the state, and in the beginning of 80th years provided a huge share of budgetary receipts - 77 %. (2) If there are receipts that government gets from different sources, then there are expenditures that government has. It is obvious that if government spends more than receive, it causes budget deficit. In economy these two important concepts of spending and receiving are interdependent. Because deficit occurs when the State expenditures exceed receiving in concrete to year, the government should control this process. When there is not enough money in budget, government borrows money from all different countries. Finally, we encounter with more problems. It does not help us to get out of the debt. Theoretically, the government has to choices to solve this problem. One way is to decrease its spending, and second way is to increase collecting of tax. But in the real world of economy this or that way will not work.
Why the budget deficit of the USA increases during all history of the country? In my opinion, on these questions there is the answer: military expenses, national defense, and war. These three are the biggest issues.
During all history the USA had the most powerful army in the world. It looks like the US has a big power and stability in whole world. Is not good? But it must be too expensive to maintain the army like this. It is billions of dollars government spends on military expenses, which is far more than any other country in the world. I think it is a cause of huge amount of national debt and budget deficit. But it is similar to the question about infinity. There is no end of it, and where the beginning is hard to tell. But there is one interesting fact. All Americans remember the tragedy of...

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