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Posted: August 25th, 2022
The National Debt Research Project
The National Debt Research Project
During the Great Recession, like any other economic downturns, as unemployment rises, aggregate income declines causing a major decline in tax collections. On the other hand, with the rise in unemployment, spending on safety net programs rise. So, to stabilize the national economy, government appears to have only two options (neither good) either to put in place severe austerity measures (cut spending) or increase borrowing. Of course, it is very difficult to defend cuts in the federal government programs and especially the programs geared to sustain the minimum of the standard of living for the “poor.” But increase in borrowing has major adverse impacts on the national economy.
Homework help – Write an essay analyzing: Different theoretical views on national debt, Long-run costs of high national debt. Costs of eliminating the budget deficit solely through (1) personal tax increases, and/or (2) through spending cut by decreasing in transfer payments (i.e., Social Security, Medicare and Medicaid) and in discretionary spending (such as defense and education budgets).
Complete this essay in a Microsoft Word document, Help write my thesis – APA formatted which will automatically submit it to “TurnItIn” for plagiarism review. Please note that a minimum of 700 words is required.
NOTE: For specific details, be sure to refer to the Syllabus Addendum that has been posted as an Announcement
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