U.S. federal budget, political science homework help

Anonymous
timer Asked: Aug 14th, 2016
account_balance_wallet $20

Question description

Over the past many years, there has been ongoing debate raging in Washington, D.C. regarding the U.S. federal budget. As the U.S. deficit increases, some argue that cutting government spending should be a key priority of our lawmakers. Others favor more gradual decreases, such as raising taxes or implementing a proposed freeze on discretionary spending. Either way, as an economic adviser to the President, you have been tasked with presenting a proposal that addresses how to fix a current budget gap of $300 billion dollars in an effort to appease both sides of this debate. 

  • Using the budget below, decide what options you will suggest cutting or implementing for your presentation to the president. Remember that these actions must cover a budget gap of $300 billion.  
  • Please keep in mind that these changes could seriously affect citizens' daily lives. Also keep in mind people may be so angered by the changes that they will take action to prevent the president’s reelection, thus putting you out of a job.
  • DOMESTIC PROGRAMS AND FOREIGN AIDCut foreign aid in half $17 billion
    Eliminate farm subsidies:

    Opponents believe subsidies help large businesses at the expense of small farms. Supporters believe subsidies protect American agriculture.

     $14 billion
    Cut pay of civilian federal workers by 5 percent $14 billion
    Reduce the federal workforce by 10%: 

    This would eliminate approximately 200,000 federal jobs.

     $12 billion
    Other cuts to the federal government: This includes reduced funds for the Smithsonian and the National Park Service, and closing the Office of Safe and Drug-Free Schools. $30 billion
    Cut aid to states by 5%: This pressure states to cut funding for schools, police, and other services. $29 billion
    MILITARYReduce nuclear arsenal and space spending: This would cut the number of nuclear warheads and end the "Star Wars" missile defense program. $19 billion
    Reduce military to pre–Iraq War size and further reduce troops in Asia and Europe $25 billion
    Cancel or delay some weapons programs: This would cancel some expensive purchases identified by the Sustainable Defense Task Force as possible cuts. $19 billion
    HEALTHCAREEnact medical malpractice reform: This option would begin to reduce the chances of large malpractice verdicts, which supporters believe would also check rising medical costs. Opponents say it could reduce doctors’ incentives to avoid errors. $ 8 billion
    Increase the Medicare eligibility age to 68 $ 8 billion
    Raise the Social Security retirement age to 68: This would rise from the currently planned 67, encouraging people to work longer. $ 13 billion
    EXISTING TAXESReturn the estate tax to Clinton-era levels: Those passing on an estate worth more than $1 million to their heirs would have portions of those estates taxed. $ 50 billion
    End Bush tax cuts for income above $250,000 a year $ 54 billion
    End Bush tax cuts for income below $250,000 a year $ 172 billion
    Payroll tax increase for high earners: Those making over the current ceiling of $106,000 would have to contribute more to Social Security and Medicare. $ 50 billion
    NEW TAXESMillionaire's tax on income above $1 million $ 50 billion
    National sales tax: This would add a tax of 5 cents on every dollar for most purchases. $ 41 billion
    Carbon tax: This option would tax carbon emissions, which scientists believe contribute to global warming. $ 40 billion
    Bank tax: This would tax banks based on their sizes and the amount of risk they take. $ 73 billion
    Total gap covered by your budget plan$_________________
    • When you have reached your target, save your results—you will need to refer back to them 

    My question is 
    . Did doing this exercise change your feelings about the budget debate in Washington? If so, how?
  • I have 5 min

Tutor Answer

Wilbet
School: UIUC

Running Head: Budgeting

1

Budget Deficit

Name
Institution
Professor
Date

Running Head: Budgeting

2

Yes, after critically conducting the exercise, my feeling about the debate in Washington
has slightly shifted. Firstly, I agree that cutting the government spending is the key priority to
covering the budget gap. Additionally, after reviewing the impacts of each item within the
budget, I strongly disagree with Republicans view of steep cuts in government spending. The
budget cuts being suggested by the Republicans would have a significant negative impact on the
lives of ordinary Americans who make up almost 98% of persons earning below $25...

flag Report DMCA
Review

Anonymous
The best tutor out there!!!!

Similar Questions
Hot Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors