Topic > The Moment of Truth: America's Financial Crisis

America fears the financial crisis and no clear solution has arisen. Political parties continually blame each other in an endless cycle, while the state of the economy continues to decline and the national debt continues to increase. On top of this, many government functions, such as tax reform and Social Security, have “leaks,” where money is lost. As researchers look more and more into the crisis, they continue to find frightening results, such as the debt expected in 2035 to be 185% of the country's GDP. Despite the work of economists, an economic problem of this severity had never arisen before. The National Commission on Tax Accountability and Reform has been working to create a document to guide Washington toward a solution, however this article has both advantages and disadvantages. To understand the article, you must first understand the Commission and where they come from. They were a group created specifically by the President to combat this problem. In their values ​​they talk about unity, charity, frugality and integrity. Their purpose is to keep the nation in balance, while changing the direction of the debt from rising to falling. President Obama was the one who created the group. Although elected by the Democratic Party, the Commission includes members from both the Democratic and Republican parties. They design the article in six different parts, trying to combat many different factors that increase the level of national debt. The Commission begins by stating its list of goals, such as “Achieve nearly $4 trillion in deficit reduction by 2020.” These goals seem far-fetched, but they describe how flawed these systems are and lead the reader to... middle of paper... in the scheme of it all, the plan will be well laid out, with some suggestions proven to succeed immediately and others after a longer period of time. On the off chance that the plan is crafted sensibly, it can and will help the weak economy of the United States of America and leave it standing to become one of the most capable economies in the world. (Kaiser, p.20, 2010). References: Bertone, Gianfranco. “The moment of truth for dark matter WIMP.” Nature 468.7322 (2010): 389-393. Sturzenegger, Federico and Jeromin Zettelmeyer. Debt default and lessons from a decade of crisis. MIT press, 2006.Kaiser, Niclas, et al. “Depression and anxiety in the reindeer-herding Swedish Sami population.” International Journal of Circumpolar Health 69.4 (2010).