Question

Go to the internet and find a news article published within the last three months that discusses balancing the federal budget of the U.S. and fiscal policy, summarize key points and post in the Discussions area. Discuss the current level of the Federal budget deficit and the implications of the deficit. Support a proposal for addressing these concerns. Reflection – the students also should include a paragraph in the initial response in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace.

Don't forget the post reference (site)

Answer 1

When the spending of the government is more than the revenue there arises a budget deficit. Government spending is necessary because it helps the economy to grow. It boosts the economy so people have more purchasing power and can spend on the goods and services they want.

Currently the US is running a budget deficit which is because the spending of the government exceeds the revenue it receives. The deficit of 2019 is $985 billion. The government spending accounts for about $4.407 trillion where as the revenue it receives is about $3.422 trillion. The current deficit is greater than by 18%. As per the finance department, the US budget won't balance until 2040.
Now there are various reasons why the US runs a deficit. It is because of low tax rate and more spending by the government. Most of the spending is on the military. The US doubled it's spendings after the 9/11 attacks. It is four time more than the spending of China and ten times of Russia. Although Trump is set to new administrative defensive spending and wants additional funding to fight for ISIS. The budget deficit is difficult to reduce until the spending on defence is cut.
Another reason is the low tax which increase purchasing power of the people and also puts the political party in favour of the people.
US government also spends a lot of money for the benefit of the citizens like social security, Medicare, welfare programs like Housing assistance, etc. And unemployment benefits. This also leads to an increased deficit.

Government spending is a part of the GDP. Thus if the government spending is more the growth of the economy is more. People have more money with them and their spending makes the economy strong. Also the government pays the debt on time so debt doesn't arise as an issue. The government should try to lower the deficit for the debts but there should definitely be spending for the maximum welfare of the people.

Reference -
https://www.thebalance.com/current-u-s-federal-budget-deficit-3305783

https://www.google.com/amp/s/globalnews.ca/news/4787265/federal-budget-balance-2040/amp/