This economics report examines the US budget deficit, focusing on its rapid increase and the associated national debt. It analyzes the fiscal year 2018 deficit, comparing it to previous years and discussing potential solutions like moderate taxation and defense spending cuts. The report delves into the Laffer curve theory and the impact of tax laws. Furthermore, it explores the effects of the Great Global Recession of 2007/2009, including stimulus packages and expansionary fiscal policies implemented by the US government. The analysis includes the Keynesian theory, the impact of tax cuts, and the stabilization of private investments, with references to economists' viewpoints. The report concludes by supporting the stimulus packages and advocating for policies that promote increased consumption and full employment.
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