Article 1 - When it comes to controlling the near-term...

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I. In Washington on July 31, 2010, the Republicans have taken the deficit issue as their own problem while the democrats have ceded the debated. The government will collect 2.2 trillion dollars from taxes and spend 3.6 trillion in the 2010 year. This will leave a 1.4 trillion gap. The deficit will increase by about 1 trillion a year for the next decade. If this continues, the deficit will be double what it is today by the year of 2050. Spending on the biggest items in the budget cannot be quickly cut back without unraveling the programs.
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Unformatted text preview: When it comes to controlling the near-term problem, trillion-dollar deficits every year for the next 10 years the biggest help will be a return to solid economic growth and increasing tax revenues. II. The government is in a situation that needs to be helped. The Obama Administration needs to take into account that they will put us in a bigger deficit than we are already in by 2050. This is not good because the future generation will be stuck trying to fix a problem that started back in our time....
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This note was uploaded on 08/26/2010 for the course AMERICAN G EMP-101 taught by Professor Joans during the Spring '10 term at Laguna College of Art and Design .

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