national deficit :: essays research papers

As one of the top ten concerns in this years presidential election, the national deficit has been given some attending by both presidential candidates. But the candidates can only see promises to the public on this issue, stating that they willing cut the national deficit in half , by 2009. Since both George W. crotch hair and John Kerry have the akin goal, the examination begins on how each of them plan to achieve it. When electric chair Clinton took office, he reduced the national debt by 10% in his last quintet years. But as Bush took the presidential seat in 2001, he reversed this progress and is now predicting that he will achieve the highest proportion of Gross National Debt to the Penny (GDP) in 50 years, if we re-elect him.(http//zfacts.com/p/318.html)When Bush took office, there was a surplus of $236 billion, according to the Office of Management and Budget. By the end of 2004, a record $413-billion deficit is expected because of revenue enhancement cuts, consumpti on on national security, Iraq and Afghanistan and interest on the debt. (http//www.freep.com/news/politics/taxgrid23e_20041023.htm)President Bush blames the deficit on the recession, the rise in military and mother coun resolve security spending, and tax cuts, which he believes were needed to encourage the economy. He has give tongue to holding off on non-homeland security and non-defense spending combined with stinting growth will start it possible to cut the deficit in half over the next five years. He still plans to try and agree his tax cuts permanent, which have affected both businesses and individuals. In wish to the budget enforcement rules affective in the 1990s, Bush is requiring annual limits on nonmandatory spending programs, and a pay-as-you-go requirement to force necessary spending programs to make budget cuts to make up for the increases payments. (http//www.post-gazette.com/pg/04284/392809.stm) Sen. John Kerry blames the deficit on tax cuts and entitlement spen ding not paid for with savings elsewhere. He has said that property the optional domestic spending on the same line as inflation, and paying for new proposals which will balance out savings, will make it possible to cut the deficit in half in his showtime term. Kerry also says he would bring back the traditional pay-as-you-go rules, but maintenance the right to raise taxes so as to offset spending increases if necessary, though Kerry has vowed to put off spending increases or find offsetting cuts first. Kerry plans to try and diminution tax cuts for households earning more than $200,000, and use other tactics that he estimates will raise nearly $900 billion, much of which will go toward funding health care and other initiatives.