United States Budget Deficit

US budget deficit "Expenditure is not due to current tax revenue but borrowing and borrowing from past tax reserves". This is not a good idea. Why the US deficit Since 1980, the deficit has expanded significantly. Some say that this is a bad thing to predict the future bad luck, others say that it is a necessary condition to maintain a sound economic security and stability. About 150 years after the establishment of the US government, the government succeeded in maintaining a balanced budget.

The US budget deficit is the result of public policy decisions. They were made for decades of tax cuts for rich and businesses, inefficient and expensive medical systems, and uncontrollable military spending. If we restore the taxation of companies and wealthy people to the level of the 1960s, eliminate waste of defense expenses, waste of contracts of fraud and fraud weapons, and eliminate private interests in health, 1947 to 1973 You can reconstruct profit margins between. Economic and social tax rate The company's wealth and excess profit tax is between 50% and 90%. During this period workers enjoyed the opportunity of middle class consumption standards, benefited from a peak union density of 35%, income disparity reached the lowest point in American history. Gradual personal income tax and corporate income tax rates fund strong public education system, child care, child care leave, and universal health care.

In the report that O'Neal appointed Treasury Secretary in 2002, the United States is facing a US federal budget deficit of more than 500 billion dollars in the future. It also points out that if the United States wants to protect children's and grandchildren's promises, it is inevitable that significant tax increases, large expenditure cuts or both are inevitable. According to OMB's comprehensive fiscal forecast, the long-term fiscal imbalance of the federal government as of the end of 2002 was $ 44.2 trillion. This is the value of the present value of resources that the government must achieve by reducing or increasing expenditure so that the national fiscal policy can launch a sustainable path. This figure is more than ten times the current public debt and is several times the same value published anywhere in the forecasted range of 75 years.