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 patrimonial from Bush. Then, it talks about Bushs centerpiece economic docket cut taxes, as well as the way Bush eer do politics ahead of economics. After a serious of expenses cogitate to two big wars two enormous tax cuts and a material body of new entitlement program signed by Bush had been spent, the economic began to go down.He not only squandered the entire figure surplus he had inherited, but started to confronting a stubborn street corner and a steadily escalating bud wash up shortage. Next, the video shows the bitterly partisan fight over Obamas pricy economic recovery jut out. The Republi dissolves worried about if the plan goes well, they give get no credits for anything they gull done. So they strongly disagree with this great amount of recovery expenses. The main issue r egarding of this plan is about revitalize healthc ar in order to make unnecessary money in the dogged 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 shortfall 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 set about right now. The only thing I realized from my personal cognize 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 th at the U. S. government actually wants to wee the preservation by increase more demand. International student is a good resource of money. Another interesting thing I prime in my daily life is that not only numerous retailers put advertisement like buy 2 get 2 free, approximately luxury brand starts to go on sale as well.It is seldom to see decades ago for a brand like Burberry put furtherance in front of its showcase. From this perspective, peoples buying power has decreased 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 note 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 of necessity to take well-nigh actions to decrease debt deficit. According to the video, there are two ways to tighten deficit, either by higher taxes or lower benefits. Today, forty per centum of budget pays for Medicare, Medicaid and Social Security. However, the first baby boomer is getting retired originally 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 occupy 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. just now after the healthcare has been taken, the economy will benefits in the long r un.