The United States of America, was created, based on certain principles, of freedom, and liberty, rights and obligations. Far too often, we have witnessed, elected officials, especially when they are running for office, resort to making empty promises, and using an excessive amount of rhetoric, often, focused on blaming and complaining, rather than viable solutions! An analysis of promises made by politicians, indicates very few, come to fruition! Party politics, often, complicates, achieving the priorities, and needs/ concerns, and we often, see, haphazard legislation, enacted, without a realistic, true, consideration of the economic impacts. For this, and many other reasons, we have witnessed, an escalating U.S. deficit, and budgets passed, with overwhelming deficits. With that in mind, this article will attempt to consider, examine, and briefly discuss, 4 basic options, for our nation’s economy, and budget, and the potential ramifications, etc.
1. Balanced budget: Politicians often promise a commitment to supporting balanced budgets, but, appear to forget their promises, once elected! The last time, an American President, openly, and honestly, expressed the need, for responsible handling of our economy, was Jimmy Carter, 40 years ago. President Carter supported the concept and approach of zero – based budgeting, which meant, fully examining and considering alternatives and options, rather than merely proceeding, with the same – old ways! The last surplus occurred, during the last years of the administration of Bill Clinton. Today, under the administration of President Donald Trump, we are seeing our national budget, and corresponding deficits, escalate dramatically! Students of history, have observed, nations, who run huge deficits, for any period of time, suffer!
2. Sustainable; focused; relevant: President Trump’s focus appears to be on what he perceives as winning, rather than sustainable, focused policies! He appears to disregard the longer – term ramifications, of many aspects, of leading, and, this, his actions are often, more based on populism, than fiscal responsibility! It’s important to realize, short – term, band – aid, fixes, are far different from responsible budgeting, etc!
3. Deficit: One should examine a nation’s debt, as a ratio, and/ or percentage, based on the Gross National Product (GNP)! Under this President, our deficit, and amount of accumulated debt, has grown, to record levels!
4. Trickle – down, versus. middle – class focused: Trickle – down economics has never worked successfully, nor lived – up, to the promises, of its proponents! The better option, if one truly wished, to make things better for the middle – class, as promises of the so – called tax reform, passed, late in 2017, it would focus far more on the middle – class, rather than predominantly, serving the wealthiest!
It’s a fundamental choice, whether to have a country, which is relevant, prepared, sustainable, and serves the common good, or one, which prioritizes widening the class – divisions! When these deficits are unsustainable, America, in the long – run, will probably suffer!