Blog Post

Sam Wojcik
Mrs. Weser
Economics
2/27/14
I abide by the honor code__SW__.


In Economics this week, we explored a number of new topics. We discussed public transfer payments, and went over government social spending programs. We went over the government's fiscal policy and budget, and how they get all the money they spend, and spend all the money they have (and then some), with taxes. Taxes that can come from businesses, citizens, taxes on sales, and taxes on people's property. These are known as the four tax bases, there are many more ways the government gets its revenue. The two choices the government has to spend money on is mandatory spending, and discretionary spending. The government is required by law to finance mandatory spending, that's all the stuff that is necessary for infrastructure. Discretionary spending is all the stuff that the government doesn't have to spend money on but it is deemed important, like interstate highway systems and transportation systems. We played a game in class where we controlled aspects of government spending and it showed us what our decisions had on the economy by 2035. Most people were able to lower the national debt 4 trillion dollars in only a few years. (Really a few minutes) Just by cutting foreign aid, welfare that people abuse, and other completely unnecessary spending we were able to diminish the national debt significantly with positive effects. If President Obama really cares about this country, why doesn't stop his mission "The Lost Cause", and do whats really necessary for the good of the country?