Economics - Usa Economy

Drew Domino

From a twenty-one year old college students perspective enrolled in economic courses, The United States economy is up and down.  I do not focus too much on the economy outside of class simply because I do not have the responsibility’s yet that “adults” have when it comes to paying bills and having family to provide for and things of that nature.  What I do pay attention to is things that affect me directly.  Being a college student and having a relatively tight budget I focus on things like prices of groceries, cost of gas, and how much beer is.  On a greater scale I know that our economy is in great debt and we need to figure out how to cut that down and become more prosperous.  Here are some ideas that I have on how we might be able to do that.  

        I think we need to have authority have more control of people’s budgets.  I believe that there are a lot of people out there that do not know how to spend their money wisely.  If we had mandatory personal budgeting then I think people would have more money for the things they need and wouldn’t spend their hard earned money on materialistic things that they don’t need. This also takes into account people’s education on the topic of budgeting.  I know not everyone has the opportunity to receive an education but if there some type of mandatory course for all people who work to take to educate them on how to spend their money I think that would be helpful to not only their personal economies but the overall economy.  With people becoming more educated on how to spend their money wisely this will help not only at the moment but will help them sustain a better way of spending for themselves and this country.  

        When it comes to taxes, I know I don’t like to pay them and I’m pretty sure no one does.  There is a lot of talk when it comes to taxes especially now with the presidential debates going on and I don’t know how the lowering of taxes would affect the economy on a greater scale, but I do know that when I buy something and have to pay taxes on it that is less money for me.  If there was lowered taxes it would allow me to have more money in my pocket, which would allow me to be able to spend more money on goods and services and therefore put more money back into the economy.  This would also be beneficial for small businesses. Everyone has bills to pay, but when they have extra money to spend, what do they do with that? With me being in college and not having a house to pay for and other “grown up bills” I know that if I had extra money I would be using that money towards good and services and small businesses.  On a greater scale if everyone had that extra money I believe that they would be using it either for some things that they have been wanting and working hard for, or paying off some of the debt that will help out their personal economies and eventually helping out the national economy.