U.S. Fiscal Cliff - Essay Example

Comments (0) Cite this document
The author of this essay "U.S. Fiscal Cliff" casts light on the situation with "Fiscal Cliff" in the USA. Admittedly, the situation is with regards to a host of tax cuts and new austerity measures  – if not legislative or executive actions are taken to ally them…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.7% of users find it useful
U.S. Fiscal Cliff
Read TextPreview

Extract of sample "U.S. Fiscal Cliff"

Download file to see previous pages The primary obstacle towards a greater understanding between the two political parties with regards to austerity, spending, and the national debt is with regards to how the situation should be handled. On the one side the Democratic Party oftentimes if much more fiscally liberal than the Republican Party and as such oftentimes has few qualms in running up high deficits. However, the Republican Party itself under the Bush years added to the national debt by a figure of over 4 trillion dollars. Such a sum for the time was an unimaginable one. Aided by nearly a decade of conflict and two wars, the Republican Party lost any and all credence that they had formerly retained with reference to being the party of fiscal responsibility. However, with regards to the individual positions that the political spectrum retains, there can be said to be two. The Democratic Party believes that the best way to find a reasonable solution for such economic difficulties revolves around raising taxes (specifically on the upper middle class and wealthiest citizens). Such an approach has merits; however, speaking economically, it also serves to penalize those job-creators that most directly influence the level of growth and recovery that the nation would experience if such a deadweight loss were not experienced.
Similarly, those that support the alternate view to the one listed above claim that any and all budget shortfalls must be remedied by relying on austerity and/or budget cuts to achieve the desired result. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“U.S. Fiscal Cliff Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
U.S. Fiscal Cliff Essay Example | Topics and Well Written Essays - 1250 words. Retrieved from https://studentshare.org/history/1608879-us-fiscal-cliff
(U.S. Fiscal Cliff Essay Example | Topics and Well Written Essays - 1250 Words)
U.S. Fiscal Cliff Essay Example | Topics and Well Written Essays - 1250 Words. https://studentshare.org/history/1608879-us-fiscal-cliff.
“U.S. Fiscal Cliff Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/history/1608879-us-fiscal-cliff.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


CLS v. Martinez, 561 U. S

...?A LEGAL BRIEF ON THE RECENT U.S. SUPREME COURT RULING IN CLS V. MARTINEZ, 561 U. S. On June 28, the United s Supreme Court gave a ruling on the CLS vs. Martinez, 561 US ___130 S.Ct. 2971, 177 L.Ed.2d 838 (2010). The case was filed by the Christian Legal Society (CLS) at the Hastings College of Law at University of California on the ground that official governing groups should accept all the students regardless of their beliefs and status to acquire recognition. The respondents were Leo Martinez, Acting Chancellor and Dean of Hastings College of Law, University of California; Jacqueline Ortega, Student Services Director; the Board of Directors of Hastings College of Law, University...
3 Pages(750 words)Coursework

The growth of the U. S. Military

...? The Growth of the U.S Military The Growth of the U.S Military The United s military has existed since 1775. During thefight for independence, the United States incepted the continental military in order to take responsibility of the revolutionary war of the time. In 1784, an official army came in to place to replace the continental army shortly after its disbandment. This gives the American army the longest existence in history. The first army won the war to independence although there was little professionalism. The American military has progressed from the unprofessional beginning to what it is today. In the 21st century, the American army has the largest defense budget in the world. The military makes use of advanced...
6 Pages(1500 words)Research Paper

The Fiscal Cliff and the United States

... Section/# The Fiscal Cliff and the United s: A Future Prospectus of What Actions will Precipitate what Reactions One of the single largest difficulties that greets the United States, and most other developed economies, during this time of economic hardship is the coalescence of austerity measures with increased rates of taxation as governments attempt to reduce budget shortfalls in the face of reduced GDPs and correspondingly low tax yields (Postal, 2012). Although a firm understanding how these two relate would require a dissertation length piece on both social, governmental, and economic trends, this brief essay will attempt to summarize some of the key concerns related with these implications as well as seeking to understand... and...
5 Pages(1250 words)Essay

Economics Paper in MLA format including 2 primary source documents

... September 2011. . Kowalski, Alex. U.S. Housing Starts Unexpectedly Drop to Five-Month Low. 17 April 2012. u-dot-s-dot-housing-starts-unexpectedly-drop-to-five-month-low>. Mike On Ads. Supply and Demand. . Morrison, Malcolm. Bernanke warns on fiscal cliff. 20 November 2012. fiscal-cliff>. Yahoo! US credit rating downgraded, again. .... to rely on foreign loans and this is not a favorable situation. Due to the large budget deficit, the Charirman of US Federal Reserve, Ben Bernanke warned that a “fiscal cliff” may be on its way which may see tax rtaes increase and government spending may decrease which in turn may slow down the US economy recovery process (Morrison). Works Cited CNBC. The World's Biggest Debtor Nations....
6 Pages(1500 words)Term Paper

Jimmy Cliff

...20 March Jimmy Cliff Jimmy Cliff is one of the greatest living artists and is an internationally acclaimed icon from Jamaica. Apart from being a Reggae superstar, he is also an international movie star and a well known figure in the world for his legacies to the field of entertainment. He made Reggae which was earlier an unknown form of music but now it has become quite famous in the world. Reggae started during the early 1970’s, and it is an important type of rock music from Jamaica. It is a combination of Mento, Ska and Rock Steady. “Reggae changed the traditional rock patterns by allowing guitar to play the off-beat chords, while the bass guitar played melodic patterns” (Reggae...
5 Pages(1250 words)Research Paper

Complexities of the U. s financial system

...? Complexities of the U. S financial system Complexities of the U. S financial system The US financial system is extremely complexand is affected by a number of environmental factors, which include the economy and federal regulations. The complexities inherent in the US financial system also impact different aspects of the economy, as well as the existence of businesses and individuals in the country (Pryor, 1996). This paper will examine the complexities of the US financial system, discussing different aspects of the system, for instance, financial markets and the Federal Reserve System. The US financial system consists of the financial markets, which impact individuals,...
3 Pages(750 words)Assignment

Inaugural addresses by U. S. Presidents

...Disarmament Disarmament is the process of laying down arms, specifically the reduction or abolition of a nation’s military forces or armaments. In his inaugural address, John F. Kennedy exhorted the adversary nations of America to turn to the ways of peace by focusing on disarmament. The president requests the adversaries “...that both sides begin anew the quest for peace, before the dark powers of destruction unleashed by science engulf all humanity in planned of self-destruction” (Kennedy, 1961). This is a motivational speech in which Kennedy reminds other nations the futility of hoarding modern destructive weapons. Kennedy was worried over the present status of affairs where nations are overburdened by the cost of modern... Disarmament is...
2 Pages(500 words)Essay

U. S. Constitution

...US Constitution s right in American political system refers to the political rights reserved for the governments. Even though America asa whole has a federal government, each state in America has separate state governments. US constitution provides some specific rights to the state governments in law making even though all the state governments are operating under the federal government. The rights of the state government are protected by the tenth amendments (Part of bill of rights) in US constitution. According to The Tenth Amendment to the U.S. Constitution; “The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States, respectively, or to the...
1 Pages(250 words)Essay

The U>S Legal System

... Legal Issue and a Strong and Substantiate Argument in Support of Your Opinion Task The case is centered on two counts: counts of murder and burglary. On the count of murder, the defendant is accused of the first degree murder. First-degree murder, in most states, is an illegal killing that is both premeditated and willful, meaning that it was committed after "lying in wait" or planning for the victim. In this case, the deceased had earlier wanted to dispose of some of her diamond rings, though not clear. The defendant may have been involved in the deal and latter planned to kill her for the rings. That again introduces another crime committed – burglary. Based on the evidence provided, the defendant broke into Stella Blauvelt’s... Legal...
1 Pages(250 words)Assignment

U S History

..."Crisis of Confidence" in the United s The United s was a dominant world power in the 1970’s even though the countries self-perception was mired in doubt and malaise. The stagflation of the country’s economy, the experience and results of the Vietnam war, the lack of confidence of the government by the people as it was no longer perceived as a champion of freedom, the Watergate imbroglio all contributed to the “crises of confidence” in the country. The debt on the dependency of US citizens and the government increased resulting to difficult times. Jimmy Carter came into power at the time after the country’s failure in the Vietnam and Watergate scandals. A leadership crisis emerged that...
2 Pages(500 words)Admission/Application Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic U.S. Fiscal Cliff for FREE!

Contact Us