Week 4 Economics Research

ECO 372

Week Four Reflection

Firstly, the National Debt is passed along from generation to generation which makes it harder and harder to buy basic consumer necessities. As a result, we become a "service based" economy with a dwindling middle class to use those services. Taxes would rise, further disenfranchising the poor, causing our jails to overpopulate. Which puts China in a position to dictate and hold a gun to our heads and threaten to pull the trigger on Washington, D.C. Consumer confidence would be severely injured because this is the engine of our economy. Consumers would worry about the future of the economic stability, holding, rather than spending their money. Only when big debts and deficits begin to show hope of declining will the consumers relax and...