national Deficit
...re “succession of negative economic pressures including the 2000 economic downturn, the subsequent recession, the 9/11 attacks, the war on terror, and increased spending on homeland security.” The negative things that go along with having such a large deficit are mainly Medicare and social security programs. There will have to be a reduction in spending with these two things. The government will also have to trim the benefits given to people from these two programs. The reason why this is such a problem right now is because the baby boomer generation is getting to the age when they will have to use Medicare and Social Security. If there are so many people who are trying to use these two things, there will not be enough money to offer people and these two programs could become less effective for future generations. The government is trying to make the deficit look less worse and improving than it actually is. Some politicians are afraid that the White House put out a fake number a few years ago on how large the deficit was going to be today. The White House used to give 10-year budget estimates. The White House is now giving 5-year budget estimates to try and not show how bad it actually is getting. Inflation is also getting higher as the deficit increases. “For one, the gains in income appear to not be trickling down the economic ladder, instead concentrating among higher-income individuals and retained corporate profits. Wages, for one, remain low when compared to the growth of the economy.” The p...