Debt Essay Example | Topics and Well Written Essays - 500 words

Debt - Essay casingvoid the fiscal deficit as much as come-at-able by the repayment of extensive public debt in order to save the current and future generation from the burdens of debt.The the Statesn deficit in 2009 was around $1.8 trillion which was equal to 13.0 percent of gross national product (GDP). This deficit was $157 billion higher(prenominal) than what is expected. The additional spending to recover the economic sector from the current financial crisis was the major reason for the increment in deficit (An Analysis of the Presidents Budgetary Proposals for Fiscal Year 2010, p.1). the States was cardinal of the worst affected countries as far as the current recession is concerned. Many big companies were one the verge of close down unless the government helped them. The close down of big companies bequeath definitely attach the unemployment problem which the government dont want to occur. So, only option available in precedent of the government was to declare a sti mulus package to pump money to the ailing economy. Since the gross domestic production growth was less, the pumping of money to the ailing economy may increase the fiscal deficit once again and again which means each Americans debt was also increasing.The Iraq and Afghan wars were also contributed heavily to Americas deficit. It is difficult for America to double back the military exercises in Afghanistan and Iraq before achieving the objectives. It is suicidal for America to stop these wars since neither of the objectives was achieved yet. At the same time, new war fronts are also on cards for America. For example, Irans efforts to acquire nuclear weapons cannot be watched silently by America. Many people believe that America will be forced to open another warfront in Iran in order to prevent Iran acquiring the nuclear power. Any such moves will again put American economy in jeopardy. It is difficult for America to conduct wars in three different regions at the same time.Immediat e stoppage of wars is the only possible solution in front