Political and Economic Trends in America: Budget Deficits and Income Inequality
Overview
This paper examines two major trends affecting contemporary America: rising budget deficits and postcolonial economic inequality. The author argues that increasing government deficits coupled with uneven income distribution among marginalized populations and people of color creates significant challenges for economic stability and social development in the United States.
What this essay covers
- Political Trend: Analysis of rising budget deficits from $580 billion in 2016 to $2.8 trillion in 2021 and their impact on government debt
- Economic Postcolonial Trend: Discussion of uneven income distribution affecting marginalized communities and people of color
- Personal Impact and Congressional Role: Reflection on how these trends affect future prospects and critique of political inaction
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Western Civilization II
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Political Trend
Debts and deficits are a major political trend in America, and it is increasing every day and administration after another. The budget deficit has increased from $580 billion in 2016 to $2.8 trillion in 2021. The number keeps increasing every day, which is quite alarming from an economist's point of view. The massive, increased deficit forces the government to incur debts since it spends more than it earns annually (Kies, 2020). In 2016, Congress focused and committed to ensuring that the deficit goes down, but unfortunately, the numbers have increased ever since. This particular trend has impacted my life, and every day I think about the future of America. Increased deficits mean high debts, and it will be hard to thrive in America than in any other country in the world. Many challenges may arise as a result of increased debts, therefore, unemployment rates will continue to increase.
Economic Postcolonial Trend
Uneven distribution of income is a postcolonial economic trend that has been in existence for decades. People from marginalized areas, ethnic groups, and people of color do not get an equal share of income in the USA. It is quite disheartening because it leads to partial development. When people are not empowered wealth-wise, it becomes hard to fight for their rights due to a lack of resources (Zein-Elabdin, 2009). Uneven distribution of wealth has impacted my life, and it has become a common trend.