US Budget Deficit and Government Debt vs. Japan’s The United States Budget Deficit and government debt is skyrocketing and almost exceeding $1 trillion dollars. In context of macroeconomics and the United States economy, the definition of debt is the total amount the government owes while the definition deficit is how much one spends compared to how much that person earns. For the United States, the budged deficit is nearly $60 billion dollars and on track to exceed $1 trillion by the end of the year. The United States government debt is currently at $15.8 trillion dollars. This national debt has continued to increase an average $3.92 billion per day since September 28, 2007.
Emperors overtaxed the population and overregulated the market place and would often purposely debase their currency by reducing the precious metal content. This in turn led to disastrous inflation(Perry 2013). One needs to look no further than our own Federal Reserve System and its fiat currency to see the similarities. Politicians essentially have a blank check and can spend and print as much money as they want. This influx of cheap money devalues our currency and causes inflation.
In an attempt to raise capitol taxation was increased, coupled with heavy borrowing from other countries. Severe inflation occurred, acute in 1916, as the gold standard was abandoned and more notes were put into circulation in order to be able to pay wages. This inflation also contributed to the shortages in food, as trading became unprofitable. Many
Diabetes alone costs over $1 billion annually; an average of $2774 per diagnosed case. Medication is subsidised by Medicare- which is funded by tax dollars. Cardio Vascular Disease (CVD) is the most expensive health condition for the Australian Health System, causing an average of 400 000
Antipoverty policies put in place by some governments include food stamps, welfare assistance, and subsidies on goods of mass consumption. Throughout this paper we will explore these parts of the theory together in the hopes that we come to a better understanding of poverty as a whole. Economic Theory of Poverty Poverty is the state of one who lacks a certain amount of material possessions or money. Absolute poverty or destitution is inability to afford basic human needs, which commonly includes clean and fresh water, nutrition, health care, education, clothing and shelter. A little more than one and half billion people are estimated to live in absolute poverty today.
Rising Health Care and Poverty Rising Health Care and Poverty in the U.S.A Introduction Rising health care costs and poverty have been on the rise since the early, 1990’s. Medical costs have more than doubled over the last decade, and health insurance premiums have risen nearly five times faster than wages. Americans are spending far more on health care than residents of any other industrialized county while receiving lower quality care overall. Clemmitt, Marcia (2006, April 7) Rising health cost (vol.16, Issue 13). The census data for 2006 shows that 36.5 million Americans or about one in eight lived below the federal poverty like of $20,614 in income for a family of four.
Seems like a scam to me! As you can see consumerism is what drives our economy. Right now shopping may even seem patriotic, it's without a doubt helping our economy pull out of the recession. On the other hand it's also partly the blame for the recession mixed with greed and want. Every year around tax season many Americans splurge instead of paying off current obligations.
Life On The Margins – Food Insecurity ‘Population increase is the root cause of food insecurity’ Figure 1 Figure 1 Population growth Figure 2 Figure 2 Rapid population growth. Poor African and Third World countries have the highest growth rate in the world as shown on figure 1 which puts them at increased risk of food crises. For example, the population of Niger increased from 2.5 million to 15 million from 1950 to 2010. According to some estimations, Africa will produce enough food for only about a quarter population by 2025 if the current growth rate will continue which is alarming to say the least. The continuous rising demand enforces the supply to increase in value and this is catastrophic for most African countries.
According to Gallup, the lack of good jobs in America is a greater problem than the inefficient healthcare costs, runaway government spending, and even global terrorism. The lack of good jobs is a poignant crisis in America today, and is making our nation bankrupt. When GDP is up, there are more jobs in a nation, resulting in better welfare. This is why GDP is so important to the welfare of its citizens. GDP is the sum of all goods and services produced in a country during a year (Ferrell).
Internal national inequality may also be an important factor in an underdeveloped country. This is the case with poverty that some countries face each day. With limited academic success, even national means of IQ differences have played an important role in causing international inequality. 4 Several other factors have been recognized as a necessity for a country to grow faster in an economic way. This is a requirement for the deprived