Open Mike on Economy

Even with a hard drive toward nuclear power, the global economy collapses. In the wake of the global financial crisis, the federal government invested heavily to stimulate the faltering economy. In simple terms, a budget deficit is the difference between what the federal government spends (called outlays) and what it takes in (called revenue or receipts). To complicate matters, many fiscally conservative congressmen and women have pledged to never raise taxes, leaving little hope for a compromise between spending cuts and increased revenue. Throughout America’s history, the country has run some heavy deficits during times of war like the Revolutionary War of 1775 to 1783 and World War II, which it joined in 1941. It generally recovered post-wars thanks to economic growth and less military spending. The national debt represents the total amount of money that the federal government has borrowed to cover its annual budget deficits. Two of the largest spending obligations of the federal government are Social Security and Medicare, popular programs that support senior citizens during retirement. In 2012, the United States federal government spent $3.54 trillion on everything in its budget, including defense, (the largest chunk of discretionary spending at $670 billion), Social Security (the largest of the mandatory expenses at $767 billion), Medicare and Medicaid, scientific research, grants for college students and much, much more.

As of December 2012, the People’s Republic of China owned $1.2 trillion in Treasury securities and Japan owned $1.1 trillion, making them the two largest holders of the U.S. Of course, the U.S. Small-scale solar, wind and water power generators would become standard necessities for in the U.S. Water pollution from mining would end, and garbage production would essentially cease without the ability to produce nonbiodegradable products from petroleum. The bulk of food production would have to be local. And while it’s hard to predict the results of the twilight of the Industrial Era, there are two places where we can make some guesses: food and the environment. Big cities would lose population, as people moved to rural areas to live closer to food sources. And, they are designed to accommodate two or more people. Most people recover from bronchitis in two or three weeks, but the nagging cough may stick around longer.

It can have a fusion of either two double beds, three twin beds, or a single, double bed and a twin. As the nonpartisan Congressional Budget Office explains, there are only two ways to lower the deficit: cut spending or increase revenue. This is false. In fact, the average American eats two snacks a day. Sweetman, Bill. “SpaceShipOne: Riding a White Knight To Space.” American Institute of Aeronautics and Astronautics. The famous Fire and Ice Show begins in mid-December and features skiers and snowboarders riding straight through flaming hoops (what better way to kick off the Christmas season)? A reality show is interested in you. After all, if you burned a piece of toast, every sprinkler would go off, soaking all of your belongings, even though there never was any real danger of fire. There wouldn’t be a lot of starvation, but cutting off global trade would radically change the way we eat. National economies that depend on international trade (which is basically all of them) would sink into a deep economic depression. International trade would grind to a halt, and foreign goods would become exorbitantly expensive or unavailable. International Atomic Energy Agency.

This independent, nonpartisan agency is assigned the task of predicting the economic effects of proposed policy decisions. Nuclear Energy Agency (NEA). If we’re conservative and assume that every plant costs $5 billion to build, meeting the world’s energy needs would cost about $24.7 trillion. Sixteen trillion dollars is a staggering sum, and as long as the government runs a budget deficit, that number will keep rising. 11.9 trillion in bar mitzvah gifts. The other option, raising taxes to shrink the deficit, is also wildly unpopular. A majority of congressional Republicans have rejected the idea of raising taxes and want to achieve deficit reductions through spending cuts and reform to the large “entitlement” programs of Social Security and Medicare. So how does the government come up with the money to pay for programs it can’t afford? Fewer creditors mean less borrowing power; the government would have to cut back drastically on critical programs. By purchasing a $50 savings bond, you are lending the government $50 at a low interest rate. The national debt, also known as the public debt, is the result of the federal government borrowing money to cover years and years of budget deficits.