budget deficit Essay -- essays research papers fc

"It's time to clean up this mess." Famous last words heard from the mouths of many different politicians when talking about the national debt and the budget deficit. Our debt is currently $4.41 trillion and we have a budget deficit of around $300 billion and growing. Our government now estimates that by the year 2002 the debt will be $6.507 Trillion. While our politicians talk of balancing the budget, not one of them has proposed a feasible plan to start paying down the debt. In the early days of our government debt was considered to be a last resort. In 1790, when Alexander Hamilton, as secretary of the Treasury, made his first report on the national debt of the United States, he estimated it at close to $70 million. After alternately rising and falling, the debt stood at only $4 million, or 21 cents per capita, in 1840. That was the lowest point ever reached by the public debt of the U.S. After 1840 it rose to a peak, in the last year of the Civil War, of almost $2.68 bil lion and a per capita figure of $75.01. The only justification for debt of any significant amount was a war. By 1900 this had been reduced to under $1 Billion. By 1919, the end of World War I, the debt had climbed to $25.5 Billion. In each of the following years the debt was reduced, and by 1930 stood at $18.1 Billion. With the collapse of Wall Street in 1929, the country (debt history: 1850 to 1950) fell into the Great Depression, which lasted until 1940. At that time the debt had climbed to $51 Billion. By the end of World War II the debt was $269 Billion. Again the government worked to reduce the debt, and by 1949 it was $252.7 Billion. At that point the Korean War started, sending the debt to $274 Billion by 1955. Since then, there has been no serious effort to pay down the debt. The main point to be made was that on three separate occasions a major debt reduction effort had been made, but in the past 55 years in spite of much arm waving there have been no similar results. The U.S. debt is divided into two major kinds of loans, marketable and no marketable. The former provides about 52 percent of the total and is made up of bills, notes, and bonds that can be traded; the latter includes U.S. savings bonds, foreign-government-owned securities, and government account securities that are redeemable but not tradable. Maturity of this debt ranges from less than a year to o... ... BIBLIOGRAPHY www.census.gov/foreign-trade/top/dst/2004 and 2003 and 2002/deficit.html The Cost of Borrowing. The Economist; Dec 15, 2004 Gale, William G. and Orszag, Peter R. The US Budget Deficit: On an Unsustainable Path. New Economy, Dec 2004. Gramlich, Gov Edward M., speech to the Isenberg School of Management Seminar Series, Amherst, Massachusetts, May 14, 2004; www.federalreserve.gov/boarddocs/speeches/2004/20040225/default.htm Griswold, Daniel T., Associate Director, Center for Trade Policy Studies, The Cato Institute, July 22 1998; www.freetrade.org/pubs/speeches/ct-dg072298.html www.investorwords.com/601/Deficit.html; WebFinance, Inc., 1997-2005 www.investorwords.com/5020/trade_deficit.html; WebFinance, Inc., 1997-2005 Eisner, Robert. How Real is the Federal Deficit? New York, The Free Press, 1986. Federal Reserve System. World Book Encyclopedia. Vol. 7, 67-68, 1988. Rukeyser, Louis. What's Ahead for the Economy: The Challenge and the Change. New York, Simon and Schuster, 1983. Segalstad, Eric V. Determinants of the Interest Rate. October, 1997. Sims, C., Comparison of Interwar and Post-War Business Cycles: Monetarism Reconsidered. American Economic Review, 1980.

Political Philosophy and Major Theme Machiavelli Essay

Machiavelli had a true and abiding love for Florence. He wanted to make Florence great and also find himself a job, as he lost his when the Medici family came into power. He dedicated his book on political science, The Prince, to Lorenzo Medici in the hopes that Lorenzo would be impressed and offer him a job. However, Lorenzo ignored the book and Machiavelli. The Prince is a didactic examination of political power, how to achieve it, maintain it, and expand it. Machiavelli does not take into consideration what is morally right, or amoral, only what is useful and useless. The book is more like a technical manual, and technical manuals only state the facts. The book defines what turns a mere man into a great ruler and what turns a great ruler into a mere man. Machiavelli’s book of politics is unique because it is so realistic. He does not place man in a false utopia where man live in eternal peace and harmony, everyone doing good to one another for the good of the public whole. Rather, he writes a manual where there are political conflicts and tensions. Machiavelli writes how a prince should deal with these conflicts and tensions. He condones cruelty, punishment, religion, rewards, compassion, and integrity to achieve power. Whatever means to achieve the end. QUESTIONS 2. Discuss Machiavelli’s â€Å"heroes†. Select one and discuss the traits that he finds admirable in that person. Be specific. Machiavelli’s heroes are Moses, Cyrus, Romulus and Theseus. They all formed civilizations. When Machiavelli talks about his heroes he is speaking of how to acquire a princedom. As Isiah Berlin says in his essay, Machiavelli admired these heroes because they were high-minded, tough, and tough enough to use brutality against the few, to help the public good of the princedom. He especially admired Moses because he was worthy to talk to God. Moses had the opportunity to create a new civilization with the Israelites because they were being treated badly by the Pharaoh . Therefore, Moses took advantage of their discontent with their new master and led them in a revolt. Eventually creating a new civilization. Machiavelli admired Moses because of his strength of character that carried him through the difficult trouble of gaining power. 3. Discuss Machiavelli’s opinions on the uses of cruelty to accomplish certain goals. The Prince is about the ways to achieve political power, with no preference for the way in which it is achieved. Machiavelli does not advocate unnecessary cruelty. His book is only about how to obtain and keep a princedom. Machiavelli believes that cruelty is sometimes necessary to acquire or/and keep political power. Machiavelli recognized that in the time he lived a political ruler would have to use cruelty, he writes, â€Å"The new prince, above all princes, cannot possibly avoid the name of cruelty†. He also states in Chapter VIII that cruelty may be useful sometimes in achieving certain ends, but it would bring no glory. 1. What does Machiavelli think of â€Å"the people† in the course of human history? Machiavelli refers to â€Å"the people† as â€Å"the masses†, lots of times. He realizes that â€Å"the people† are a dominant force in politics, whether it is a democracy or a republic. When a princedom is added to an already established kingdom, he writes that the customs must be the same between the two and that no new taxes or laws should be enacted. To do so would cause the people to revolt and the recently acquired princedom would be in jeopardy. Machiavelli realizes a prince cannot keep political power if his people hate him. A hostile population may abandon him or turn against him when hostile noble attack, then the prince will lose the kingdom. Machievelli also believed that a prince may â€Å" make an example of a very few† be execution of severe punishment, but that letting the population bring disorder among themselves was bad for the whole community. Therefore, Machiavelli was wary of â€Å"mob rule†. Machiavelli realizes that â€Å"the people† have to be relatively happy for a princedom to be healthy. 4. In general, what is Machiavelli telling his â€Å"Prince† with regard to the use of power? Machiavelli’s entire book is about power. How to achieve a princedom with power. Power over â€Å"the people† with cruelty (or punishment); power over other princes with deceit or a bigger army or powerful friends; power over the army with cruelty and/or money. He speaks of control over captured cities by dividing them into factions, disarming the people or forming hostilities among the people. All of these things achieve power. A prince must also be more powerful than his counselors, listening and gleaning knowledge but making his own decisions; because a weak prince will do whatever his counselors tell him and then his counselors will take over the princedom. EVALUATION OF BOOK I think this is one of the most interesting books I’ve read in a while. It’s dry, realistic, terse, and to the point. It’s also very easy to read (I was pleasantly surprised). All of the historical connotations are especially interesting. I read that Hitler, Mussolini, and Lenin found Machiavelli valuable reading; I would like to delve more into that one!! In the Renaissance religion and learning were beginning to be thought of as separate and Machiavelli was a man of his time. His book was entirely didactic and did not have a trace of religion. He spoke of cruelty and deceit in matter-of-fact tones and kept his book strictly a manual, with no judgements. In our modern time, we have to discern his book in the same manner that he wrote it. If we do not, we will not understand what he was writing.

Initial Public Offerings Paper Essay

In order for a company to build their business, many pursue to either merge with another company or acquisitions from another company. Another option a company should consider when building their business is to make an Initial Public Offering. An initial public offering is the first sale of stock by a company to the public. A company can raise money by issuing either debt or equity (Know Finance., n.d.). Microsoft, Apple, and Samsung have stepped into the stock market by their IPO. These strides are what it takes to raise money and what roles help the company begin an IPO. Most corporations agree to an initial public offering with an investment banking firm by acting in the capacity of an underwriter. An investment banker is a person who works in a financial institution that primarily goal is to raise capital for companies, governments and other entities (Investopedia, n.d.). An underwriter is a person that provides several financial services that includes helping with assessing the value of shares and establishing a public market for first sales (Investopedia, n.d.). An underwriter responsibility is allotting securities issued to the public. There are several risks that are involved in a public offering. Initial public offering stocks is one of the risks involved in public offering (â€Å"Financial Web†, 2014). This is sometimes called going public because the stock is offered first to the public. Share, the risks of the company, can sometimes be profitable, but a risk too. An investor, shareholder, or individual may be at risks if they invest their money within a company that is going public for the first time (â€Å"Financial Web†, 2014). Pricing of good is one of the risks that are involved in a public offering. Pricing goods too high or too low is not acceptable in the public offering. Investors and shareholders will not invest in a company if there are any issues with the pricing. A firm and their investors will lose money their money if the price of goods is priced too low. This may cause investors to pull out of the firm corporation (â€Å"Financial Web†, 2014). Loss of income and revenue may sometimes make the underwriters hold the inventory and additional funds. Long holding period and lack of information are other risks that are involved in a public offering. Lack of information may cause investors to pull out of the firm because the firm failed to provide all of the documents and files. Long holding period may cause a decrease in stock price. The  U.S. Securities and Exchange Commission (SEC) protects the investors, maintain fair, efficient markets, orderly, and facilitate capital formation (â€Å"Bridge Capital Inc.†, 2014). The SEC deals with industries by monitoring, managing the terms of sales by preliminary prospectus and setting rules and regulations for companies. Preliminary prospectus is when the company and the securities are issues to the firm. A firm will have provided their income statement, balance sheets, its current activities, and other documents that provide information about the firm. The Litigation Reform Act of 1995 (PSLRA) was put in act to increase the success in private litigation for securities fraud. References: Initial Public Offering (IPO) | Know Finance. (n.d.). Retrieved from http://www.knowfinance.com/ipo/ Investment Banker Definition | Investopedia. (n.d.). Retrieved from http://www.investopedia.com/terms/i/investmentbanker.asp Underwriter Definition | Investopedia. (n.d.). Retrieved from http://www.investopedia.com/terms/u/underwriter.asp Financial Web. (2014). Retrieved from http://www.finweb.com/investing/therisksofinitialpublicofferingstocks.com Bridge Capital Inc. (2014). Retrieved from http://bridge.com

Intercultural Conflict Analysis Essay

In the Southeast Asian region lays a body of water and islands which have been disputed about for the possession of them. This area by international term is known as the â€Å"South China Sea.† (Keep in mind that they do not have any correlations with China but it is rather just an international name.) This body of water runs along territories belonging to China, Vietnam, Malaysia, Brunei, Philippines, and many other countries. Within this body of water, there are well over 200 islands which are un-inhabited by people and contain useful resources. Considering that the sea does not surround just one country which can claim authority over it, it is difficult to determine who has the right to these islands. There are no laws on who these islands belong to. This dispute brings into many questions about sovereignty, law of the sea, and resource ownership rights on an international level if more than one country surrounds the sea. This is also representative of the economic relation s among countries in the larger Asia-Pacific region, especially in the South China Sea area. Its dynamic and cooperative approach to economic matters has attracted more partnerships with various countries and organizations across the globe. The area is potentially rich in oil and natural gas deposits; however, the estimates are highly varied. The Ministry of Geological Resources and Mining of the People’s Republic of China estimate that the South China Sea may contain 17.7 billion tons of crude oil (compared to Kuwait with 13 billion tons) The South China Sea territorial dispute has become one of the most problematic issues in recent times. Current trends as well as complications resulting from China’s rise and its conflict with anxious neighbors have seemingly put any solution out of reach in the near future. However, there are still steps that rival claimants can take in order minimize the chance of major conflict. Before any international agreement is hastily signed, claimant countries must first resolve internal hindrances to treaties. This most especially refers to China. A good preliminary step for the country would be to strictly implement a more centralized command of its maritime law enforcement and administrative agencies. After it has done this, it can now proceed to engage in agreements with other nations without the high prospect of one of its own violating any treaty provisions. Additionally, all claimant countries should limit if not stop the negative propaganda surrounding thedispute. The South China Sea issue is better perceived by people if it is seen as a source of cooperation rather than competition. Disproportionate national sentiment stemming from negative propaganda about the disputes allows less room for movement for government officials, and makes diplomacy difficult. Claimant countries can choose to coordinate a joint exploration of resources in order to arrive at a win-win scenario, instead of insidiously encroaching their way into oil sources, and ending up having to forfeit them when other claimant countries cry foul. Lastly, all countries involved must work to deescalate tensions and strive for resource sharing and regional cooperation. This could be done by making and implementing a legally binding code of conduct with legitimate mechanisms for settling disputes. If these steps can be done, then probably, the prospect of a stable multi-polar world is not that far off. References: 1.http://www.crisisgroup.org/~/media/Files/asia/north-east-asia/223-stirri†¦ 2.http://csis.org/files/ts120912_glaser.pdf 3.http://online.wsj.com/article/SB1000142412788732385490457826151182756471†¦ 4.http://www.bbc.co.uk/news/world-asia-19754353

Security Roles Research Paper Example | Topics and Well Written Essays - 1000 words

Security Roles - Research Paper Example Additionally, the head of security has some important duties and responsibilities and they most notably include filtering criminal records of the newly hired employees. Secondly, the leaders have to make hard choices during their jobs because they cannot to afford to trust anyone and it is a common belief that security professionals are paid to remain suspicious of everyone. The need to suspect everyone and everything is a defining attribute of security professionals in both public and private sectors of the society (Spitler, jones, Hawkins, & Dudka, 1987). The private security officials and agencies are bound to perform their duties under Police and public law enforcement as they are blessed with the governmental authority to prosecute any suspect. The role of private security is to minimize any immediate threat and danger to the interests of corporations. In the court of law, however private security officials have the capacity of expert witnesses while; the local police department s are responsible and accountable for conducting detailed crime investigational activities. The heads of corporate security departments have the important duty to neutralize any possibility of offence against the company and they are helped in this cause by technological interventions such as CCTV cameras and walkthrough gates. The idea is to minimize the possibility and probability of fatalities of security professionals specifically. The heads of security departments are also supposed to propose training and development of the staff so that they can perform their roles in a better manner. The private security professionals are nonetheless, believed to have lower level of dedication towards ethical standards in the field because they often suspect an innocent person as a possible threat and therefore, the suits stating that companies are engaged in harassing people, are piling up in developed parts of the world. The main purpose for outsourcing security to corporation is to minimiz e the strain on dollars of the taxpayers. In the past, the public law enforcement agencies were expected to provide security to the interests of corporations. The citizens of advanced nations developed the knowledge and publically challenged the practice. They held on to the point that their tax-revenues should be spent on betterment of public services and they must not be wasted on the protection of private economic interests. As a response to the abovementioned societal change, the companies were allowed to hire security professionals on their own. The security professionals are notorious for having introvert personalities whereas; people use to get annoyed by their tendency to suspect everyone. The public law enforcers have to commit to the higher ethical standards in order to win a conviction in the court of law but the private professionals do not succumb to any civic values and therefore, are infamous for using excessive force on suspects. Furthermore, they are also believed t o illegally detain corporation’s enemies and torture them against their misdeeds. The public imagines private security officials as thugs that are hired in order to do the dirty work of their employers. The governments on the

Jhon Locke second treatise Essay Example | Topics and Well Written Essays - 1000 words

Jhon Locke second treatise - Essay Example While Locke presents a number of viable suggestions in regards to property ownership it is nevertheless to conduct a critical evaluation of the validity Locke’s postulations pertaining to property ownership and an assessment of the applicability of his arguments in modern property ownership. In Locke’s argument pertaining to property he argues that a person’s body happens to be his own property and any work that it undertakes is thus seen to essentially be owned by it. Locke postulates that by mixing labor with the various available resources availed by nature essentially causes results in the removal of these natural resources from common ownership and makes these resources our very own. He points out that this is the premise that is granted for property ownership as provided for in the bible and is in line with Adam’s means of obtaining dominion over the entire earth and its creatures (Locke Sec. 36). Locke’s use of the bible is seen to be an atte mpt to try and essentially justify his position on the general formula that was used in the acquisition of land. In my opinion this supposition as provided by Locke essentially makes sense as it is primarily through our own individual labor activity that we can be able to cause the various natural resources to obtain their innate true value. However in my opinion, I think that Locke did not take into careful consideration aspects such as communal labor that see individuals undertake a number of labor activities not for their own individual gain, but primarily for the benefit of the entire community. Locke also seem to overlook the fact that it is nowadays quite common for individuals to desire to own land not for their own mere self-gratification but primarily for ecological stewardship purposes where their attempts are mainly geared at the general conservation of nature. To some extent, Locke’s position can arguable seen to not be justifiable as although the original premise of land acquisition in which the entire world was according to Locke America and there was a lot of land which was seemingly unowned, and hence the acquisition of land by an individual did not in any way tend to infringe on another individual’s capacity to acquire land as there was no evident scarcity of land to own (Locke Sec. 36), this supposition can be seen to not hold true in the modern day world as the rapid population increase that has been experienced around the world has caused there to be numerous persons across the world who despite their engagement in labor activities, still cannot be able to own any land or own any housing property. This is despite there being some individuals happen to own thousands of acres of land or various properties that remain vacant for very long stretches of time without having any human habitation. It is primarily in respect to this that I strongly support the argument that the current unequal possession of the earth has essentially be en imposed by most men by those that happen to be stronger than them. My current perception is that if all men were to be granted equal opportunity and resources, all men would desire to and eventually own land. Locke points out that money has been of great aid in the promotion of the unequal and disproportionate possession of the