Currently America is nationally nineteen trillion dollars in debt. If America is struggling to economically grow or even maintain itself at the time then how is it possible to help maintain other countries with such prodigious amounts of financial aid. America spends thirty five billion dollars per year to aid for other countries. This contributes to the current economic imbalance . I know what many are probably thinking what about medicare and obamacare. Such debts are benefitting the population therefore why should these come to an end. Most of the major recipients of our financial aid spend it towards strengthening their military rather than their people such as Israel and Egypt. If America were to lessen its financial aid and other countries …show more content…
Countries such as Norway or Ireland give little and seem to be thriving more than others, but fail to contribute major amounts compared to countries that are worse. They have the capability to make more of a change. The whole idea is simply of balance. If one nation lessens another should increase it all depends on the economic development of the country. Ireland is currently in debt around 200 billion and rising which is considerably less than the debt for America and China. Norway is around 56 billion dollars in debt and that drastically differs from our 19 trillion. Ireland and around 28 other countries all are a part of the European Union and contribute much yet they all joined together in financial aid in order to in a way hide the fact each individually don’t generate as much. Countries such as Switzerland are overall generally successful due to them thriving in a world of happiness countries worldwide. This proves the point I am attempting to showcase. Switzerland is known to invest in their people and not assist in financial aid rather make sure their population is satisfied. If America were to opt out of the billions of amounts of funding our economy would slowly grow as Switzerland’s
After the Progressive Era ended which allowed many middle-class Americans to prosper, Americans faced economic turmoil when the Great Depression hit in the 1930’s. Many suffered hardships like losing their jobs or having their businesses shut down which was very difficult. Despite the challenges, the United States has managed to become one of the world’s most leading economical nations in the world, closely competing with eastern nations like Japan and China. But what induced this economic boost? Was it influenced by the stress of war?
The Marshall Plan and its immediate effects are a prime example of this. This plan provided European nations with millions of dollars in aid. The Americans felt that the Marshall Plan was a good way to both rebuild Europe and ensure that communism would not spread to these vulnerable countries. The Soviets, on the other hand, were “convinced that the United States designed the aid program to lure Eastern European nations out of the Soviet orbit and to rebuild Germany” (Gillon 21). Fearful and feeling threatened, they responded by cracking down on dissent in their satellite nations, encouraging a communist coup in Czechoslovakia, and blockading Berlin.
As of right now America is in debt over eighteen trillion dollars. Obviously America is not perfect and there is still a lot of other challenges arising; however, being in over eighteen trillion dollars in debt is a very serious issue. If we remain in debt and get deeper into debt then
Some claim the American economy would be better if left alone by the government, and if the government spent less tax dollars. Even so, the American economy has showed signs that it needs government intervention in order to succeed. America has programs that use tax dollars in attempt to benefit the majority of the country. Tax dollars can be used to provide federal aid to areas that are suffering from natural disaster, funding government agencies such as NASA, salaries for government employees, etc. The Department of Commerce studies how these tax dollars are used, and makes suggestions to the Executive Branch on how to spend their tax dollars to better benefit the country.
Also, the money that was supposed to be put into American programs,
From the very beginning, however, aid was not a purely altruistic endeavour as the United States of America (US) needed a strong Europe to continue to purchase its exports and therefore keep the US economy going (Firth 2011: 286). As a result of the aid, Europe flourished, and so did the US economy. Foreign aid today continues to primarily be political and promotes the interests of the country
According to the last recording of student loan debt, the total amount of the United States student loan debt is roughly one and a half trillion dollars (A look at…). Statistics like these present the urgent need to resolve the major financial issue of student loan debt. Solutions have been given by many people to solve this issue but most solutions fail. The main reason behind student loan debt is falling to far into debt to the point where it is almost impossible to come back. The origin behind all of this is a lack of a student loan amount cap.
Many would argue that by relieving debt from students, it would act as an economic stimulus. Students unburdened by their financial load are likely to pour their money right back into the economy by purchasing goods or services. As Webly mentions, "college graduates are the type of people society needs to do things like start businesses, buy homes and cars, invent things, and make babies" (130). Their extra cash would flow back into the economy increasing revenue, creating new jobs and businesses that would lead to a growing financial system. But this solution causes disillusionment, a one-time payout from the government will not solve the economic crisis like it promises.
The answer is disturbing. The money is going to where the donor organizations want, rather than where it would have the most benefit. “International aid is too often project-based. It tends to focus on
The total U.S. student loan debt now surpasses $1.2 trillion and there is more than 40 million recipients owing on federal and private student loans (Malone). Most of the college students in the United States can’t afford their education by themselves and, as a result, students end up drowning in student loans in order to earn a degree. Student debt is a major problem in the US, and it is a major influence on the gap between rich and poor. A more accessible college education would help reduce the gap between rich and poor in the United States.
If Americans were to send all the excess money overseas, they would not have a comfortable amount of money if something unexpected were to come up that they had to pay for. Several Americans have had unpredictable events happen in their life, including the death of a loved one or an illness they were not expecting. Even today, many Americans do not have enough money to pay for these unforeseen events. If they were to send all their excess money away they may not have any support from others as well, which may put them in the same predicament as those they were trying to help. Another con for sending all the excess money to overseas aid groups would be that this has failed in the past.
Student loan debt loads have been spiraling, doubling over the last decade, and the enrollment rates of young people from lower socio-economic groups are rising far slower than middle and upper groups. Governments must recognize the renewed public investment in post secondary education is an economic and social imperative. 6.7 million borrowers in repayment mode are delinquent (Snider 1). The sad fact is that many lenders aren't exactly incentivized to work with borrowers. Unlike all other forms of debt, student loans can't be discharged in bankruptcy.
Decision and policies making coming from the US government has made both IMF and World Bank to offering loans based on strict conditions. Various debates and Critics on IMF have pointed out that their enforced policies have reduced the level of standard of living, increased in unemployment and poverty in developing countries. However, my conclusion is that since the visions of setting up both the IMF and the World Bank have never come to reality. I hereby call on for the readjustment of their policies (both the monetary and fiscal policies) and to allow the developing countries to have their say when it comes to policies and decision making. (Neal Keny-Guyer (March 23,
Debt You Could Be Put In Jail For. DEBT An increasing number of debtors are being arrested for debts they owe and cannot pay. According to reports by several national news outlets.
The issues that resulted in this financial aid included Mexico experiencing a severe recession, the countries “GDP declined by another 6.2% over 1995…before the bailout” (2016, Wikipedia), hyperinflation and extreme poverty increased, real wages and unemployment doubled. What