Microeoconomics

Barack Obama & Mitt Ronmey

Economy - Debt & Deficit

A topic that stands out the most which has been abundantly repeated over and again is our debt. A debt that our government has ranked-up and is considered to be an issue that these candidates, Obama and Romney are debating over and has been the subject of the matter since Obama had been elected president. An abroad and difficult topic to get into but needs to be examine. First of all, in order to fix’s our debt and deficit there needs to be certain modification made with the rest of the issues stated by the candidates surrounding the nation as we speak. Each issue brings a specific attribute and touches a tender topic when the predicament is brought up, but at the end it always comes down to one major crisis with several questions needed to be answered. While the Republicans and Democrats can agree to disagree the issue is still a serious setback.

With the what’s, the how’s and the when’s, a whole combination of questions that comes to mind when thinking about this dilemma of the nations debit, everyone is urging to seek a cure for this dire economy state. In the beginning of 2012 the Congressional Budget Office had recorded a deficit of $780 billion, which played a huge role in the credit rating of the United States. With the nation’s credit line deteriorating, congress is on the defense about borrowing more money and raising the ceiling of their debt. In the meanwhile, while spending more money without accruing any capital gain, the government closed out the fiscal year with 1.3 trillion deficits, making it the third consecutive year for the deficit to surpass 1 trillion. The deficit is consider to exceed and continue over to the fourth year due to old president Bush tax cuts, and a decline in reduction both in the nations revenues and tax revenues. But with two candidates, President of the United States and the 70th Governor of Massachusetts wanting a chance and the opportunity to fix the grim...