Essay on Obama and the National Debt - 1185 Words

â€Å"Back in 2008, candidate Obama called a $10 trillion national debt ‘unpatriotic’. Yet by his own decisions, President Obama has added more debt than any other president before him, one president, one term, and $5 trillion in new debt† (Paul Ryan, Rep. for Wisconsin, 2011). Everyone agrees that the national debt needs to be fixed. However, people are disagreeing about how to tackle this problem and whether or not we are making any progress. Like most global issues, it is a complicated issue with equally difficult solutions. It is hard to keep people’s interest in a confusing issue, but since we children are the ones that will be stuck with this problem soon, we’d better start taking an interest. To make this easier to†¦show more content†¦So they decreased their deficit by $10,000 which sounds great for one year, but they actually still increased their debt by another $15,000. The same thing works for the government. The govern ment has the Gross Domestic Product (â€Å"GDP†), which is basically how much money all the new goods and services are worth that everyone in America buys within a given year. The GDP represents the â€Å"how much we earn† part. The second part is everything the government spends money on; healthcare, defense, education, welfare, social security, etc. According to President Obama’s State of the Union Address, we are making progress with our debt elimination. He cited that the deficit has dropped from 6.8% of the GDP in 2012 to 3.9% in 2013. Based on my example above, we know that the deficit is not the same as the debt and that the debt continues to get larger every minute of every day. Unfortunately, while the deficit percentage of the GDP did get smaller last year, the debt percentage of the GDP is ridiculously high at 73% according to the Congressional Budget Office (â€Å"CBO†); this means that the debt is higher now than any time since after Wo rld War II. And while it may reduce for the next few years due to economic growth, the Committee for a Responsible Federal Budget (â€Å"CRFB†) predicts that the debt will grow to 79.2% of GDP by 2024 and 100% by 2023. This means thatShow MoreRelatedLearning From Past Presidents Essay example873 Words   |  4 Pagesissues of national debt and foreign policy. President Washington found it be in the interest of the national debt to always protect the public credit. To use the credit as least as possible by keeping times of peace to avoid spending. To you the nation’s money to prepare for the event of national concern over time, instead of dispersing large sums in individual events, this would help to decrease the accumulation of debt. Even more, take advantage of times of peace to pay down the national debt occurredRead MoreU.s National Debt And History1304 Words   |  6 PagesUS national debt and history The national debt of US is the amount owed by the federal government. In the past decade, $12.7 trillion have been added to the US national debt and at the end of fiscal year of 2016, the amount is expected to be approximately $22.4 trillion including federal, state and local. Debt per citizen will be over $63.000 and debt per taxpayer is about $163.000. The largest budget is medical care which is about $1.5 trillion and mostly introduced by Obama’s administration andRead MoreShould We Re-Elect Obama?648 Words   |  3 PagesShould we re-elect Obama Should we re-elect Obama This paper is about pros and cons of re-selection of Obama as the President of USA. The paper will highlight his present performance in first ruling duration and give an insight into the choice of his re-selection. The paper presents both pros and cons of his reselection as the President of USA. If we consider the political image of USA before Obama took over Presidency, it is broad daylight that many nations of the world were afraid of AmericanRead MoreNational Debt Vs. Federal Deficit1345 Words   |  6 Pages National Debt vs. Federal Deficit What word begin with â€Å"d† ends with â€Å"t†, and has to deal with the nation s budgets? Well if you guessed debt, then you are absolutely correct. Or deficit, because both fit the criteria just fine. Though these words look alike, they are not interchangeable. The difference between the two is that while the national debt is getting bigger the federal deficit (as of 2014) is increasingly becoming less. As of last year it was said that the Obama administration wasRead MorePresident Reagan s Economic Recovery Package1441 Words   |  6 PagesReagan administration. To be Frank, it would be virtually impossible for President to stage an Obama revolution with approximately a year left in office. The current political landscape is different and more challenging. Similar to President Reagan, if President Obama were to attempt an Obama revolution, he would need to use the partisan pathway. President Obama’s biggest roadblock is timing. President Obama would need to allies from his administration and from both the Republican Party and DemocraticRead MoreU.s. Federal Budget Deficit927 Words   |  4 PagesUnited States debt had reached $17.7 trillion dollars (Fighting for a U.S. federal budget that works for all Americans, 2014). Over the past few years, the U.S. debt has continued to increase and signs point to this continuing into 2015. According to the article I have cited, China and Japan hold the vast majority of the United States debt (Fighting for a U.S. federal budget that works for all Americans, 2014). This graph depicts all of the f oreign investors who currently hold U.S. debt: (FightingRead MoreEssay Causes Associated with the Unemployment Problems in the US807 Words   |  4 Pagesmore. This paper will examine the causes associated with the unemployment problems as well as the debt, and the potential solutions such as the government creating more jobs and slow down the spending. In the second will generally discuss the unemployment problems and solutions, and the third paragraph will discuss the debt issues and what needs to happen to fix it. â€Å"Serafini, Marilyn Werber, national journal, 09-29-2001†. In the article â€Å"As more jobs vanish, the worries mount†, it states UnemploymentRead MoreCurrent State of the Union; Analysis of a Political Cartoon Regarding Barak Obama881 Words   |  3 Pagesmore standard response would be one including an overall negative, and debt describing language. As seen in Barrack Obama’s 2014 State of the Union Address, the president of our nation seemed to completely disregard the actual â€Å"state† of the union by simply stating that, â€Å"The state of the union is sound†. This short, vague, and contradicting statement seemed to be blow up the anemic progressions our nation has made during Obamas presidency. It is safe to say that the description of a â€Å"sound† nationRead MoreThe Federal Debt Of The United States Of America1543 Words   |  7 PagesThe Notorious Federal Debt of The United States of America Alexander Hamilton was the first individual who introduced the national debt to the U.S. believing that having a debt would be a national blessing. As decades and centuries past by the federal debt continued to grow which led economist’s believing that deficit spending is an important factor. Another contributor to this national debit is also the federal budget the President and congress go over every year, which includes an acceleratedRead MorePresident Obama Administration : The Fiscal Policy1480 Words   |  6 PagesGiven the critical circumstances the United States economy faces today, the current fiscal policy, in addition to the changes that will be made in the future, is under intense scrutiny. During the Obama administration, which will soon come to an end in about six months, a variety of policies were created in attempts to create employment, raise our GDP, and boost the state of the economy, among other ideas. The fiscal policies created by Congress and the Presid ent demonstrate success in some areas

Essay on Finance and Internal Control - 976 Words

ACCT301 Week 2 Homework 1. In two to three paragraphs, describe the Sarbanes-Oxley Act and why it is important to the accounting profession. (15 points) The Sarbanes-Oxley Act was passed in 2002 by Congress after a series of scandals involving companies such as Enron, WorldCom, and Tyco. This was passed because of shady transactions and misrepresented financial data which caused shareholders to lose millions of dollars and their trust in investing in public companies. It was passed to create new rules of accountability and accuracy for public companies. It is important to the account profession because companies were required to have met certain conditions or face the consequences. The Act requires all public companies to†¦show more content†¦Control Activities: This refers to the organization’s policies and procedures which help ensure that the necessary actions are taken to speak out and address potential risks. Information and Communication: This focuses on the â€Å"nature and quality† of information that is needed in order to effectively control the systems used to develop such information and reports used to communicate effectively. Monitoring: This involves assessing the quality and effectiveness of the company’s internal control process over time. This includes assessing the design and operation of controls, the compliance with polices and procedures, and making sure everything is done according to the rules. 3. Describe the relationship between the Sarbanes-Oxley Act and COSO. (10 points) There are some close relationships between the SOX and the COSO. The COSO would essentially the framework for the SOX which took effect in 2002, forcing businesses to comply with different rules, policies, and producers. Though SOX is more rigorous about setting these standards and have implemented more guidelines, the COSO was essentially what the SOX Act used in order to stop fraud within a business setting. 4. Tom Jackson is a CPA who really likes to go to Las Vegas, play poker, and bet on football games. Tom knows that the accounting profession disapproves ofShow MoreRelatedFinance and Internal Controls Essay697 Words   |  3 Pagesï » ¿Finance and Investment Controls Just as all cycles discussed in this proposal the finance and investment cycles are vital to the return of borrowed assessments and the value (and longevity) of the company. Corresponded or intertwined to that of the investment cycle and business cycle, the Finance cycle deals with the company’s ability to pay back investors and entities that have facilitated finance to the company’s mission and vision. The finance cycle commences from the initial moments of obtainingRead MoreSources of Internal and External Finance for American Chicken959 Words   |  4 Pagesthe different sources of finance available to them , both internal and external. By doing this it will help them achieve both of their business objectives mentioned before. Overview There are two sources of finances available to American chicken, internal and external. Internal sources of finance are finances raised from inside the company for example profit that is re-invested into the business known as retained profit. Internal finance is generally the type of finance that a new business wouldRead MoreWhat is Finance Management?1598 Words   |  6 PagesWhat is finance management? â€Å"Financial Management is the Operational Activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operation.† by Joseph Massie. What is capital market? â€Å"Are places where companies which need long term finance can meet investor† (business study guide, p120) P1.1- Identify the sources of finance available to new business you have chosen. Every business needs finance of money to invest; there are a number of waysRead MoreDefinition Of Primary Government : The City Of Bakersfield Essay895 Words   |  4 Pagesis approximately 100 miles north of Los Angeles. The City had an estimated population of 367, 315 as of January 2014. Government’s Financial Condition as of the balance sheet date: According to the letter of transmittal provided in the CAFR the finance director states the city is showing signs of recovery after the recent recession. The letter states that the City has been really careful managing their budget and ensuring they have a cushion to rely on in case of emergencies. 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Internal source of finance The Corporation reliesRead More CEO and Head of the Audit Committee of the Board of Directors1037 Words   |  5 Pagesmemo are, first, to explain the meaning and significance of evaluating control environment; second, to discuss the integrity and ethical values; third, to show the organizational structure; fourth, the importance of establishing commitment to competence; finally, to establish and segregate the division of responsibilities of finance and accounting department in order to establish the appropriate tone. 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These provide the necessaryRead MoreKnottyville Case Essay1414 Words   |  6 Pagesï » ¿ Knottyville Country Club: Asset Misappropriation Srinivasan Ragothaman LEARNING OBJECTIVES After completing and discussing this case, you should be able to Evaluate misappropriation risk factors Evaluate internal controls Design new control Governance in non-profit sector Analyze materiality decisions Apply SAS 99, PCAOB AS5, and SAB 99 Perform cost benefit analysis Knottyville Country Club: An Instructional Case on Asset Misappropriation There was a stunned silence in the courtroomRead MorePlanning Objectives And Objectives Of An Organization Essay1298 Words   |  6 Pagesresponsibility and advises the council on issues related to internal and external audit, financial control, management of risk and the adequacy of the systems on internal controls. 2. 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Regression Analysis and Marks Free Essays

BRUNEL UNIVERSITY Master of Science Degree examination Specimen Exam Paper 2005-2006 EC5002: Modelling Financial Decisions and Markets EC5030: Introduction to Quantitative Methods Time allowed: 1. 5 hours Answer all of question 1 and at least two other questions 1. COMPULSORY Provide brief answers to all the following: (a) A sample of 20 observations corresponding to the model: Y = + X + u, gave the P P P following data: (X X)2 = 215:4, (Y Y )2 = 86:9, and (X X)(Y Y ) = 106:04. We will write a custom essay sample on Regression Analysis and Marks or any similar topic only for you Order Now Estimate . 5 marks) (b) Prove that r2 = byx bxy , where byx is the least-squares (LS) slope in the regression of Y on X , bxy is the LS slope in the regression of X on Y , and r is the coe? cient of correlation between X and Y . (5 marks) (c) Present four alternative in†¡ ation/unemployment regressions. (5 marks) (d) Give one reason for autocorrelated disturbances. (5 marks) (e) Explain how we might use the Breusch-Godfrey statistic to test estimated residuals for serial correlation. (5 marks) (f) The following regression equation is estimated as a production function for Q: lnQ = 1:37 + 0:632 lnK + 0:452 lnL, cov(bk ; bl ) = 0:055; 0:257) (0:219) where the standard errors are given in parentheses. Test the hypothesis that capital (K ) and labor (L) elasticities of output are identical. (5 marks) Continued (Turn over) 1 ANSWER TWO QUESTIONS FROM THE FOLLOWING: 2. (a) Economic theory supplies the economic interpretation for the predicted relationships between nominal (in†¡ ation) uncertainty, real (output growth) uncertainty, output growth, and in†¡ ation. Discuss †¦ve testable hypotheses regarding bidirectional causality among these four variables. (25 marks) + yt b) An investigator estimates a linear relation for German output growth (yt ): yt = 1 + ut , t = 1850; : : : ; 1999. The values of †¦ve test statistics are shown in Table 1: Discuss the results. Is the above equation correctly speci†¦ed? (10 marks) 3. (a) i) Show how various examples of typical hypotheses †¦t into a general linear framework: Rb = r, where R is a (q k) matrix of known constants, with q k, b is the (k 1) least-squares vector, and r is a q -vector of known constants. ii) Show how the least-squares estimator (b) of about . an be used to test various hypotheses iii) â€Å"The test procedure is then to reject the hypothesis Rb = r if the computed F value exceeds a preselected critical value† Discuss. (20 marks) (b) The results of least-squares est imation (based on 30 quarterly observations) of the regression of the actual on predicted interest rates (three-month U. S. Treasury Bills) were as follows: rt = 0:24 + 0:94 rt + et ; RSS = 28:56; (0:86) (0:14) where rt is the observed interest rate, and rt is the average expectation of rt held at the end of the preceding quarter. FiguresX parentheses are estimated standard errors. in X (rt r )2 = 52. The sample data on r give rt =30 = 10, According to the rational expectations hypothesis expectations are unbiased, that is, the average prediction is equal to the observed realization of the variable under investigation. Test this claim by reference to announced predictions and to actual values of the rate of interest on three-month U. S. Treasury Bills. (Note: In the above equation all the assumptions of the classical linear regression model are satis†¦ed). 15 marks) Continued (Turn over) 2 4. (a) What are the assumptions of the classical linear regression model? (10 marks) (b) Prove that the variance-covariance matrix of the (k 1) least-squares vector b is: var(b) = 2 (X 0 X) 1 , where 2 is the variance of the disturbances and X is the (n k) matrix of the regressors. (15 marks) b (c) In the two-variable equation: Yi = a+bXi , i = 1; : : : ; n show that cov(a; b) = 2 X= X)2 . (10 marks) X (X 5. (a) Explain how we might use White statistic to test for the presence of heteroscedasticity in the estimated residuals. 10 marks) (b) A speci†¦ed equation is Y = X +u, with E(u) = 0 and E(uu0 ) = ; where =diagf 2 ; : : : ; 1 Derive White’ correct estimates of the standard errors of the OLS coe? cients. s (15 marks) (c) Explain how we might test for ARCH e ¤ects? (10 marks) 2 2g . 3 Table 1. Test statistic Value of the test p-value White heteroscedasticity test 50. 72 0. 00 Box-Pierce Statistic on 82. 263 0. 00 Squared Residuals Jarque-Bera statistic 341. 754 0. 00 ARCH test 65. 42 0. 00 Ramsey test statistic 39. 74 0. 00 4 How to cite Regression Analysis and Marks, Essay examples