Commentary on Ten Trillion and Counting

Commentary on Ten one thousand thousand and Counting The video is a well demonstration of debt issues that the U. S. government faces. It starts with the tough economic condition that Obama acquire from Bush. Then, it talks about Bushs centerpiece economic agenda cut taxes, as well as the way Bush of all time institutionalize politics ahead of economics. After a serious of expenses connect to two big wars two enormous tax cuts and a descriptor of new entitlement program signed by Bush had been spent, the economic began to go down.He non only squandered the entire work out surplus he had inherited, but started to confronting a stubborn fadeout and a steadily escalating bud endure dearth. Next, the video shows the bitterly partisan fight over Obamas expensive economic recovery computer programme. The Republi apprizes worried about if the plan goes well, they entrust get no credits for anything they make done. So they strongly disagree with this coarse amount of recovery exp enses. The main issue regarding of this plan is about straighten out healthc ar in order to hold open money in the spacious 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 famine 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 in condition(p) 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 lining right now. The only thing I realized from my personal take in is that the U. S. government has relaxed the policy regarding to the threshold of international student. Several years ago, it is not easy for Chinese student to go abroad. Which reflects that the U. S. government genuinely wants to make up the parsimony by increase more demand. International student is a good resource of money. Another interesting thing I set up in my daily life is that not only numerous retailers put advertisement like buy 2 get 2 free, several(prenominal)(prenominal) luxury brand starts to go on sale as well.It is seldom to see decades ago for a brand like Burberry put procession in front of its showcase. From this perspective, peoples buying power has narrowd 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 bind borrowing from foreign countries is a way to buffer these problems, it is not a permanent way to solve the economy. So the U. S.Government inescapably to take some actions to decrease debt deficit. According to the video, there are two ways to reduce defi cit, either by higher taxes or lower benefits. Today, forty part of budget pays for Medicare, Medicaid and Social Security. However, the first baby boomer is getting retired to begin with and they are claiming early retirement 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 downturn conditions.The Obamas administration tries to exploit 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 sure 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. tho after the healthcare has been taken, the economy will b enefits in the long run.