The Bowles and Montgomery articles

plese reply 150 words

Given the information you watch and read in the preceding Module 7 activities, use that background to answer the following questions for discussion. Since the simulation is using 2012 numbers, start off with actual numbers just to inject a sense of reality into this discussion. Research this information from a reliable source and begin your analysis with what you found. Detail your choices for cuts and spending, paying close attention to what you read in the Bowles and Montgomery articles. Finally, analyze the effect your choices will have on the economy.Historically speaking, the United States is has been one of the most powerful nations in the world. The economy however, faces plenty of adversity both financially and economically. In recent federal budget data, it is recorded that there is a deficit of $474 billion (2016). This means that the expenditures of the US has increase to almost $4 trillion. The increase in spending results in a decrease in revenue which is the reason for the deficit. The expenditures reducing government revenue are medicare, social security, and military spending. When the military receives a new defense budget, it will more than likely be a higher expenditure than the previous budget. This in return increases the deficit more and reduces government revenue. With a 20% increase in the DOD budget, the deficit will likely climb to over $1200 billion leaving no room for government revenue. Therefore, for this example the military spending needs to be reduced to under 20%.Simulations aside, the congressional budget office as of February this year reported federal revenues up to $362 billion as a result of the tax reform. Tax cuts will not pay for themselves, however, they have create the ability for organizations to increase salaries and bonuses. The CBO forecasts a 2.2% increased GDP rating for 2018 and a 1.7% increase for 2019. Some experts believe the revenues could be much higher than these numbers. In these cases it is important to ensure that regardless of what restrictions are implemented they need to be balanced out on the other side. In this case, the federal spending needs to be monitored to ensure that the revenue does not dissapear. Reference:Go Figure: Tax Revenues Climbed $18 Billion In First Month Of GOP Tax Cuts | Stock News & Stock Market Analysis – IBD. (2018, February 08). Retrieved from https://www.investors.com/politics/editorials/revenues-climb-5-2-in-first-month-of-gop-tax-cuts/

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