Current event 2

Current event 2 - Will Bauer 1/25/08 2nd Period Juicing the...

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Will Bauer 1/25/08 2 nd Period Juicing the Economy Will Come at a Cost CnnMoney.com Jeanne Sahadi Who : President Bush and members of Congress What : There is a huge National Debt right now, and it is estimated the federal budget deficit this year will increase to $219 billion. There have been many bills attempting to reduce the debt. A stimulus package was proposed by Washington to take care of this problem in the long run. But in the short run, it would increase the National Debt so experts are debating whether or not it will be beneficial. If the stimulus effort works, the increased economic activity will generate federal tax revenue. When : Right now. Where : In Washington; across the US. How : The point of a stimulus package is to get the economy up and running. Additional Information : Large budget deficits leave the government with less flexibility to pay for its programs without borrowing. So if our government continues to grow its debt, we will be directly affected by it. Currently, the dollar has gone down in value, so it
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