Sample Assignment on Politics
Added on 2021-06-15
4 Pages620 Words26 Views
Running head: POLITICSPOLITICSName of the StudentName of the UniversityAuthor note:
1POLITICS“The Obama administration warned Thursday that a prolonged debate over whether toraise the federal debt ceiling would harm the economy by depressing business and consumerconfidence, increasing stock market volatility, erasing household wealth and increasing interestrates on mortgage and corporate loans”, reports the Washington Post (Goldfarb 2013). Thesestatements from the report reflects the general feeling about the prolonged debates concerningthe federal debt ceiling, and how a lack of permanent resolution may potentially harm theeconomy by various means as mentioned. The 2011 debt ceiling debate was based on various factors and one important was thelevel of appropriateness of the government spending and how government spending or funding iseffecting the “national debt and deficit”. During 2011 the Republican party has demanded thatthe head of American state must negotiate and endeavor towards “deficit reduction in exchange”.In the previous times the debt ceilings had been raised or manipulated without much debate anddiscussion. The debt ceiling is not the budget that decides the spending but it is actually theexisting amount of spending that the government has already committed and is bound to pay.This 2011 debate on the debt ceiling and the prolonged discussion about the ways in which thespending may be managed reflects a more complicated system where even the pace of thegovernment activities may be affected. The US Congress has set a “debt ceiling” above whichthe “Treasury” cannot borrow any money.2013 saw another debate that may be termed as the extension of the debate of 2011, and itwas also about the raising of the “debt ceiling” by the American government. The “debt ceilingcrisis” of 2011 had resulted in the raise of the amount to 16.394 trillion dollars and in 2013 thecountry reached the ceiling and the debate was about further extension of the debt ceiling. TheRepublican party opposed the upward movement of debt ceiling by the years. “Congressional
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