You will prepare and submit a term paper on The go. Your paper should be a minimum of 250 words in length. The Go “The Go” says… America is in a tough situation which is created due to its huge volume of debt. The congress is finding it extremely difficult to decide the amount of money that it should cut off from this year’s deficit. It is true that there is no one individual or party that can be held responsible for this situation. However it is also true that the situation has become more complicated since Obama took charge. His recent budget is likely to take America more deep into the debt crisis. It is expected that due to this budget public debt will be tripled by 2021. Furthermore it does not include any reform programs for the government’s retirement and health related programs. $1.5 trillion are imposed as taxes and the spending is not expected to go down below 23% of the nation’s economy. The budget that is proposed by Republicans is called “The Path to Prosperity”. It is claimed that this budget will bring down the spending by $6.2 trillion. According to the study that is conducted by Hertage Center for Data Analysis, almost 1 million new jobs will be created if this budget is accepted. Important features of this budget are reduction in spending, welfare reforms, retirement and health security, tax reform and budget enforcement. It proposes to bring down the spending on various government agencies. It includes important welfare programs that end up in generating jobs. The reform programs will save Medicare. Most importantly it will protect the retirement and health security. Furthermore, this budget is likely to emphasis on growth by bringing reforms in the country’s backdated tax code and by bringing down the tax rates. Lastly this budget recognizes the importance and requirement of ‘change’ in the way of spending that is done by government.
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