Chase Norton
Dr. Wang
Global Studies R274 BAS
8 / 28 / 2016
What could explain the United States debt crisis?
The question “What could explain the United States debt crisis” is, in my opinion, extremely relevant. I think it has to do with our leaders and the administration they brought with them. The crisis that our government is experiencing today could have come from the economic policies of our previous leaders including election promises, sponsors, and even kickbacks.
Back in 1981 Ronald Reagan was inaugurated into the office of the 49th president of the United States of America. He immediately began making key changes in the country such as expanding our military, infrastructure, and implementing a policy now called Reaganomics. …show more content…
Bush got in office he knew that if he wanted to make it through the next election he would have to make drastic reform. He entered in a recession and wanted to take care of americans that needed help. Many americans were out of work and so he was forced to sign some very expensive economic stimulus packages. This along with the wars in Afghanistan and Iraq has stressed the economy significantly. While he was in office spending on medicare and defence more than doubled. As part of his campaign he also lowered taxes that mostly affected the richest and the poorest of American citizens. I believed this could of caused the significant drops in our national tax income previously experienced in the last few years of Bill Clinton’s administration.
When Obama got in office there was already a significant strain on the American workforce. I believe the main reason he continued to push for spending was to stabilize the economy. I suppose he did succeed with allowing for almost a policy of normalcy but hiding our massive debt that has been building up in the background for many years. It has recently broken nineteen trillion dollars and it's nowhere near going back down. I think it's going to be really interesting to see what our leaders are will decide next to attempt to rectify this urgent …show more content…
"How President Reagan Ended the 1980s Recession." The Balance. N.p., 27 Oct. 2016. Web. 09 Nov. 2016.
“Bill Clinton on Foreign Policy.” Bill Clinton on Foreign Policy, www.ontheissues.org/celeb/bill_clinton_foreign_policy.htm.
Soni, Jimmy (June 25, 2013). "10 Things You Definitely Didn't Know About Bill Clinton". The Huffington Post.
Jump up David Maraniss (1996). First in His Class: A Biography of Bill Clinton.
Rabe, Barry. "Environmental Policy and the Bush Era: the Collision Between the Administrative Presidency and State Experimentation."
Sabato, Larry J. ed. The Sixth Year Itch: The Rise and Fall of the George W. Bush Presidency (2007), experts on the 2006 elections in major
Dr. Wang
Global Studies R274 BAS
8 / 28 / 2016
What could explain the United States debt crisis?
The question “What could explain the United States debt crisis” is, in my opinion, extremely relevant. I think it has to do with our leaders and the administration they brought with them. The crisis that our government is experiencing today could have come from the economic policies of our previous leaders including election promises, sponsors, and even kickbacks.
Back in 1981 Ronald Reagan was inaugurated into the office of the 49th president of the United States of America. He immediately began making key changes in the country such as expanding our military, infrastructure, and implementing a policy now called Reaganomics. …show more content…
Bush got in office he knew that if he wanted to make it through the next election he would have to make drastic reform. He entered in a recession and wanted to take care of americans that needed help. Many americans were out of work and so he was forced to sign some very expensive economic stimulus packages. This along with the wars in Afghanistan and Iraq has stressed the economy significantly. While he was in office spending on medicare and defence more than doubled. As part of his campaign he also lowered taxes that mostly affected the richest and the poorest of American citizens. I believed this could of caused the significant drops in our national tax income previously experienced in the last few years of Bill Clinton’s administration.
When Obama got in office there was already a significant strain on the American workforce. I believe the main reason he continued to push for spending was to stabilize the economy. I suppose he did succeed with allowing for almost a policy of normalcy but hiding our massive debt that has been building up in the background for many years. It has recently broken nineteen trillion dollars and it's nowhere near going back down. I think it's going to be really interesting to see what our leaders are will decide next to attempt to rectify this urgent …show more content…
"How President Reagan Ended the 1980s Recession." The Balance. N.p., 27 Oct. 2016. Web. 09 Nov. 2016.
“Bill Clinton on Foreign Policy.” Bill Clinton on Foreign Policy, www.ontheissues.org/celeb/bill_clinton_foreign_policy.htm.
Soni, Jimmy (June 25, 2013). "10 Things You Definitely Didn't Know About Bill Clinton". The Huffington Post.
Jump up David Maraniss (1996). First in His Class: A Biography of Bill Clinton.
Rabe, Barry. "Environmental Policy and the Bush Era: the Collision Between the Administrative Presidency and State Experimentation."
Sabato, Larry J. ed. The Sixth Year Itch: The Rise and Fall of the George W. Bush Presidency (2007), experts on the 2006 elections in major