Commentary on Ten Trillion and Counting

Commentary on Ten Trillion and Counting The icon is a well demonstration of debt issues that the U. S. regime faces. It starts with the tough economic condition that Obama inherited from Bush. Then, it talks about Bushs centerpiece economic docket cut taxes, as well as the way Bush always cast politics ahead of economics. After a serious of expenses related to 2 big wars two enormous tax cuts and a variety of new entitlement program signed by Bush had been spent, the economic began to go down.He not completely squandered the entire bud work over surplus he had inherited, but started to confronting a stubborn recession and a steadily escalating budget shortage. Next, the video shows the bitterly supporter fight over Obamas expensive economic retrieval plan. The Republicans worried about if the plan goes well, they will get no credits for anything they have done. So they strongly disagree with this huge amount of recovery expenses. The main issue regarding of this plan is about reform healthcare in order to save specie in the long run.However, it is difficult to persuade interest groups and politicians who have been battling over healthcare for a long time. Besides, it is especially tough to talk to Americans about the government are going to spend less on benefits in a recession time. In the end, this video talks about Obamas budget, and the rigorous debt shortfall condition that the U. S. is going through. The reason I think the Ten Trillion and Counting is a well explanation of the debt deficit is because I learned a lot from this video. Before I watched this video I have no idea about the serious debt deficit problem that the U.S. is facing right now. The save thing I realized from my personal experience is that the U. S. government has relaxed the policy regarding to the threshold of international assimilator. Several years ago, it is not easy for Chinese student to go abroad. Which reflects that the U. S. government rightfully wants to stimulate the economy by increase more demand. International student is a good resource of money. Another elicit thing I found in my daily life is that not only numerous retailers put advertisement like buy 2 get 2 free, some luxury brand starts to go on sale as well.It is rarely to see decades ago for a brand like Burberry put promotion in front of its showcase. From this perspective, peoples buying power has decreased sharply. Which results in less investments and staffs cut-off made by companies. In addition, a really serious recession was already happened. The stock market collapse, the banking system is imploded. Although keep borrowing from foreign countries is a way to buffer these problems, it is not a steadfast way to solve the economy. So the U. S.Government needs to take some actions to decrease debt deficit. According to the video, there are two ways to reduce deficit, either by higher taxes or lower benefits. Today, forty percent of budget pays for Medicare, Medicaid and Socia l Security. However, the first baby boomer is getting retired sooner and they are claiming early hideaway for social security. Moreover, as they grow order, they will make claims on Medicare. The U. S. government cannot afford these promises made before, especially in this kind of terrible economic downswing conditions.The Obamas administration tries to bring deficit down by reforming healthcare in order to save money in the long run. In my opinion, the recovery plan needs to have a try. As Obama said the most important things we can do for our budget crisis right now is to make true the economy does not continue to tank. And that is why passing the economic recovery plan is the right thing to do. Even though it is expensive. In the short run, the debt deficit may tend to be bigger than Bushs time. But after the healthcare has been taken, the economy will benefits in the long run.