POSC 311 NOTES APRIL 4-APRIL 8, 2016
POSC 311 NOTES APRIL 4-APRIL 8, 2016 POSC 311
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This 5 page Bundle was uploaded by Audra Oul on Wednesday April 6, 2016. The Bundle belongs to POSC 311 at 1 MDSS-SGSLM-Langley AFB Advanced Education in General Dentistry 12 Months taught by James Fox in Spring 2016. Since its upload, it has received 27 views. For similar materials see Constitutional Law Power in Political Science at 1 MDSS-SGSLM-Langley AFB Advanced Education in General Dentistry 12 Months.
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Date Created: 04/06/16
Monday, April 4, 2016 I.O.U.S.A; a documentary Deficient: bill 3000 borrow 5000 to pay this month. *Deficit is what you are short. --deficit: shortage, deficiency Debt: is 1000 accumulation of debts owed ---debt: borrower *total of all monies owed 8.9 trillion dollar debt How much deficient needed to get out of debt? America is in a recession. State of the Union is not good Keep American economy producing? Keep along to a balanced budget On force on budget surpass for the next 45 years The night is God bless Huge disconnect between Wall Street Current standard is unexplainable if wide action is taken GEO-improve transparency for the benefit for the people --GEO: Grant makers for Effective Organizations Surveys Appointment for Reagan and Clinton Growing cancer How big is the federal debt? 8.7 trillion dollars 2007 Federal debt Gross Domestic product Federal budget of 1988 Please see submission for the federal government 4 cornerstone -4 American Deficits Not punishing for doing what is right for America Budget deficit Saving deficits Balancing deficient Trade deficient 40 million of GDP Civil War debt passes $1 trillion 1913 Federal Reserve 7% of GDP Great depression 1929 44% of GDP World War II 122% of GDP 1939 1965 Medicare 33% of GDP Governor Regan 1992 4 trillion federal debt End of Regan era 64% of GDP -But we called it prosperity Examine solution to budget -To lower debt, you have to cut spending or raise taxes no shortcuts out of debts -Social Security is projected to stop producing “Surplus Next Year” -The American people are good at making personal savings -The 1980s saw a shift in the individual savings trend Risks of fiscal imbalance Budget committee 2008 Federal budget Social security $620 billion Interest on debt $244 million Payroll taxes $910billion $410 billion 2008 Budget deficit Without social security annual surpass, deficit worse Make situation worse if baby boomers Demand so much area of taxes Everything else Homeland Security, Education Social Security and Medicaid going to be raised for those Somebody going to pay them Wrong for one generation to spend the next generation money Concerned Youth of America Age 10 do not have credit card debts Cannot cut taxes and get Medicaid Fiscal Wake up in New Hampshire Concord Coalition Small government program Diamond ring was swallowed The Fiscal Wake up did make the news that night 1992 4 trillion deficient Tax cuts are too expensive A Balanced budget Clinton Era 1933 Provide for adequate revenues Provide the means to pay for it 1988 a surplus Spending constraints July 10, 2010 National debt clock closed at noon Chapter 2: Savings Do not Buy Stuff Cannot Afford Do not have money do not buy anything How much money have in savings account? Most people live off of pay check after paycheck Iowa Press: National debt being run up Spend more money than make Build compound interest Negative savings rates 1933 Personal savings rate: 1960s 12.4% Feb. 17, 2000 Republican Ron Paul C-Span Live Glad to have job Concern is for the supply of the money Inflation: government prints on credit on thin air The Fed. Created too much money have a crash in the market The Fed: Monetary Policy (Try to keep inflation lower) Borrowing money easy Money supply increases Stagflation: to have stagnant inflation Interest rate at 15% annually Ted Paul Volcker Do not get inflation started Prices are skyrocketing Future of our country Middle class and lower income need the help Rising health care cost Congress: Fiscal Policy Most people call it regulation Favor those invest in stock market Inflation rises people who less than well off suffers more Federal Reserve need to create provision for the future Chapter: Trade Deficit 2007 world trade imbalances Squander Ville v. Thrift Ville Have to produce more than consume Not good is the imbalance between imports and exports Trade is good if it is trade Buying more than selling: Trade deficient Eventually they have more wealth China, oil exports How the Federal Government borrows money? Savings bonds: savings for the buyer Trust fund debt + Debt held by the public (U.S. Treasury Bonds) = Federal debt Thrift Ville: it affect everything from America Saving money is Chinese tradition Important to save Should have a goal in live to live a quiet neighborhood Chinese worried about their healthcare Money invested in U.S. government debt Relationship between U.S. and China growing tighter economically Los Angeles, California Copper to consume in furnish to produce new mills Largest export to China was electrical machinery -U.S and England have the worst trade deficit -The U.S. used to borrow from Americans but now we are borrowing from foreign bank lenders --U.S. starts to be friendly to other nations: China, oil export countries, Mexico --Bush put the Medicare Part D signed it -Think stop financial challenges fraud or abuse or Bush’s tax cut but still not going to answer it Promises 11 trillion Total liabilities 7 trillion Social Security 26 trillion Medicare (A, B) 8 trillion Medicare (D) 1 trillion Miscellaneous Total 53 trillion That is 175,000 per person to deliver obligation and promises for U.S.
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