Question

With the annual deficit adding over one-half trillion dollars to the debt each year, what should be done? Defend your position on the changes you would make.

Answer 1

Rising debt is a big worry for US because it would put huge pressure on coming generations as they will have to pay for this.

changes:

1) The government should rationalize defence spending because this is one area which incur huge expenditure and still has huge money leakage so the government should discard wasteful spending which is not needed.

2) The government should encourage private sector investment which will reduce burden on fiscal budget which will reduce debt.

3) Domestic manufacturing should be encouraged as it will provide more jobs and increase government revenue and lower social payments.

4) There is need of reduce costs in government departments because there are many costs which are usually not tracked.

the above is answer