canada goose clearance sale What is the Difference Between the U
Canada Goose Parka We hear canada goose uk outlet national debt, deficit, and budget bandied about by politicians cheap Canada Goose and others all the time, especially during the presidential campaign season. But Canada Goose online what are the differences and how do they affect us?
The national debt is all the debt that has canadian goose jacket been accrued since the founding of our country. The federal budget is based on the income the government takes in and the expenses that it has from spending. It Canada Goose Jackets it takes in more than it spends, it is called a surplus. If it canada goose clearance sale spends more than it takes in, it’s called a deficit. If it takes in the same amout it spends, it’s called balancing the budget.
National Debt Incurred by Each Canada Goose Coats On Sale PresidentThe graph cheap canada goose uk below shows the national debt that has been incurred by each president since this country has been founded. Canada Goose Outlet The values at the top of each column are what the national debt was for that president at the end of his term. The numbers above each president’s name are the length of time in office. Notice, the values are in billions until we get to Reagan and then they are in trillions. An America Trillion is 1,000 billion. A British Trillion is million billion. I just Canada Goose Online added that because I know hub pages are read internationally.
The Federal BudgetThe next three slides show the federal budget. The first one shows both the income and outgo in each category and the deficit. It is somewhat difficult to read in its entirety. Therefore, the second slide is an enlargement of the income side of the equation and third slide is an enlargement of the spending side of the equation.
Notice that the total revenue is 2.57 trillion, while the total spending is 3.83 trillion. This leaves a deficit of 1.27 trillion that gets added canada goose uk shop to the national debt. To learn about the debt ceiling, read my hub on What is the Fiscal Cliff?
Canada Goose Outlet Spending Side of the EquationNotice the biggest part of spending is for defense, discretionary, and social security. It is also important to note the interest on the debt is 251 billion. https://www.goosefrshop.com That interest gets added to the national debt as well as the deficit of 1.27 trillion is also added to the national debt.
canada goose store It is important to note that social uk canada goose security is not only on the income side (934 billion) but on the canada goose spending side (730 billion). canada goose uk black friday To learn more about social security and the trust fund, read my hub on Understanding Social Security.
canada goose coats One of the ways the Congressional Budget Office (CBO) measures the impact of the National Debt on our economy is by the percentage of national debt to the Gross Domestic Product (GDP). This chart shows that percentage from the time the country was founded to current. It also includes the canada goose clearance CBO’s projections to 2030. Notice that after World War II, the percentage dropped way off and it was low under Nixon, Carter, and Clinton. There are two projections included. The CBO’s Extended Baseline Scenario is the projection if the current legislation stays in place with minor policy changes. The CBO’s Alternative Fiscal Scenario is if there are major policy changes as a result of political dynamics.
Canada Goose online Reducing the DeficitEach president and congress talk about reducing the deficit and/or balancing buy canada goose jacket cheap the budget. There are really only two variables that have to be dealt with: income (taxes) and spending (expenses). But canada goose store there is one sub buy canada goose jacket variable on the spending side of the equation and that is interest on the debt. The country is so far in debt that it can’t even pay the interest on the debt. canada goose coats on sale It has to take on more debt Canada Goose sale by issuing different types of bonds to various public, private, and uk canada goose outlet foreign entities.
Various scenarios have been put forth to reduce the deficit. They include the following:
canadian goose jacket Lowering taxes and cutting spending
Raising taxes and cutting spending
canada goose black friday sale Lowering taxes and Canada Goose Parka raising spending
buy canada goose jacket cheap Raising taxes and raising spending
canada goose clearance ConclusionAll of these scenarios will have an impact on the economy and job creation. But given the amount of debt that has been created, I don’t see any of these being able to reduce the deficit by canada goose black friday sale any great degree. It begs many questions:
canada goose Have we come to a way of life, where we will live with debt for the foreseeable future?
Canada Goose Jackets Does it really matter that we have a debt and deficit if the government can issues bonds that create more debt?
Canada Goose sale Are we in a vicious cycle of debt creation?
cheap Canada Goose When a person or organization cannot pay their bills, they are bankrupt. Is this country bankrupt, but the government won’t tell us?
canada goose deals Should the government be compared to a business if it can create canada goose coats money by issuing bonds?
Before I wrote this article, I didn’t know the difference between the national debt and the deficit. But after doing the research and creating the article, I have learned a lot about the issues and I hope you have as well. That’s precisely what the propagandist want.
veggiechick 2 years ago
canada goose coats on sale Im quite sure your right. I have listened to many, watched the debates (for reasons of knowing why people actually believe some of them, and just to keep up), and I canada goose factory sale don’t believe I’ve heard one candidate who truly has any way to even attempt at canada goose femme pas cher attempting to conquer even balancing a budget. Its pretty scary. I haven’t heard anyone barely mention anything regarding a financial plan, or even a broad based idea! Now that we can concentrate on Isis, Isil, or any random acts of terrorism. I believe this is a gift for all of them. They can rant about war, or lack of, and pretend they understand any of it. I think there are very few experts, however I don’t believe they are being asked an opinion. (smile). I’ll keep reading, listening and paying attention.