scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 2,960
Thomas Jefferson once stated I place economy among the first and most important virtues and public debt as the greatest of dangers To preserve our independence we must not let our rulers load us with perpetual debt Bussing-Burks 7 A lot has changed since Jefferson was President two hundred years ago but the need to be financially solvent is something that will always be necessary for the United States to maintain its leadership position in the world The United States of America currently owes 167 trillion in debt primarily as a result of the governments spending practices during the last ten years Two wars several fiscal collapses the bursting of the bubble in the housing market looming medical care costs from an expanded healthcare access law and a recession may be the scapegoats but the real issue is fiscal irresponsibility by the parties in power Hiber 76 One idea that has been discussed not only in Congress but also on prime time news networks is the passage of a Balanced Budget Amendment which would require that Congress balances the countrys budget every fiscal year American Government 1 A Balanced Budget Amendment could provide an exception for times of war national emergency or recession or allow the legislature to suspend the rule by a supermajority vote Lee 2 A balanced budget is critical because budget deficits can only be funded by additional increases in the level of the national debt which can place an undue burden on future generations to repay such debt create annual interest costs that consume an increasing portion of tax revenues and crowd out spending on current programs and result in potential reliance on other countries in order to make financial ends meetAt the time the Constitution came into effect the United States had a significant debt balance that was primarily associated with the Revolutionary War The major political parties had different opinions as to whether the debt should be repaid
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA