The word sequestration has become common in United States. This word is very common among the American citizens since it has been there from the nineteenth century. This term was also used by the courts to mean the custody of property which is under dispute between two parties. The court did this to ensure that one party would not dispose the property and also to ensure that the dispute was solved. This word is currently running in the mouths of many Americans. This word is used to mean the slashing and reduction of the budget in relation to spending. This program was used as a fiscal policy which started in March 2013. This policy was enacted long time ago by the act of the budget control, but took longer than expected due to opposition by the act of the American taxpayer. The total amount of spending reduced was about $5.4 billion in 2013. These cuts were also stated to be in effect from 2014 to 2021. The federal outlays are said to increase even after the sequester, but will do so in limited rates. These reductions are rumored to be even with regards to the defense and also the non-defense organizations. The sequester is also attributed to reduce the rate of growth of the economy to 0.6%. This practice also states that taxes will be increased (By Matt Smith; 9:28 AM EST, Tue February 19, 2013).
We Write Essays for Students
Tell us about your assignment and we will find the best writer for your paper
Get Help Now!The implementation of this practice was faced with many criticizing. Many claimed that this would have considerable effects to the people and that is ought to be implemented after improvement of the economy. The sequester is attributed to slow down the growth of the economy, and also affect the ability to retain and create employment for the public. The whole period that the sequester will be active, the rate of debt will be increased. This period will also lead to the lowering of the outlays of spending. This sequester is also attributed to interests saving. This practice came into effect when the president of America decided to sign in the act of budget control. This control would be used as a way to reduce the debt that the country plunges into every year. This act would help reduce the skyrocketing debts that the country was facing (By Brett LoGiurato; Feb. 26, 2013).
The media and politicians have strongly claimed and rejected the implementation of this practice. The media is, however, stating the effects of adoption of the practice. These people are not wrong as this practice is associated with different issues. This practice is said to have considerable effects to the markets of the states. This is stated by economists that it will bring a considerable effect to the economy of the country. This practice is attributed to bring a reduction and a slow pace in the markets of the country. The economists claim that these will have a considerable effect to the people and citizens. They state that this practice will have and bring issues that will affect the public. This attributed to the fact that the sequester will affect the rate of GDP. Economists claim that the rate and the level of GDP will be lowered by 0.5%. This implies that the GDP will trend down to 1.5% from 2.0%. This is an aspect that the monetary fund wishes to accomplish. Economists also attribute that this practice will lead to a reduction of the jobs creation (By The Editorial Board; March 20, 2013).
The economists claim that about 700,000 jobs will be lost if this practice is implemented. This is an aspect that economists claim will have considerable effects to the economy. This practice is also said to have considerable effects to agencies like research and developments whose budgets would also be cut. This would sail through until the end of the practice in 2021. This practice is said to have considerable effects to science. Scientists claim that the practice will reduce and affect the rate at which young scientists are acclaimed to the system. This practice is also said to have considerable effects to research. This is because the agency of science will be responsible for funding these researches. This states that those conducting researches will have to fund themselves. This means that upcoming scientists will retreat from conducting researches as they have no funds to fund their research. This practice will have considerable effects to the military. This is because the slashing of these funds will affect the readiness of the army. This states that part of the money collected will be retained by the monetary agency (By: Emily Baucum; Published: 4/08 3:21 pm; Updated: 4/08 6:56 pm).
Conclusion
The implementation of the sequester was one very important factor to the country and the American citizens. This means that it would lead to better and improved economy. This implies that the debt that the country incurs due to overspending would be cut short and would also be regulated. This would help the country also pay their debts and also streamline its allocation budget. This practice would also have considerable effects to the people of the country. This would lead to many of the projects being left unfinished posing greater danger to the people. The government should have not implemented this practice and would have considerable effects to the departments of the government. Based on the fact that this practice will lower the economy rate, it should have not been implemented in full force, but should have been done gradually. This practice has also led the government to reduce its spending as it brought little income.
References
By: Emily Baucum; Published: 4/08 3:21 pm; Updated: 4/08 6:56 pm
By Matt Smith; 9:28 AM EST, Tue February 19, 2013
By The Editorial Board; March 20, 2013
By Brett LoGiurato; Feb. 26, 2013
By David Glickman; Tuesday, February 26, 2013
By David Glickman; Tuesday, March 5, 2013
By Allie Bidwell; March 1, 2013
PLACE THIS ORDER OR A SIMILAR ORDER WITH GRADE VALLEY TODAY AND GET AN AMAZING DISCOUNT
The post The meaning of the word sequestration appeared first on Brook Writers.
Welcome to originalessaywriters.com, our friendly and experienced essay writers are available 24/7 to complete all your assignments. We offer high-quality academic essays written from scratch to guarantee top grades to all students. All our papers are 100% plagiarism-free and come with a plagiarism report, upon request
Tell Us “Write My Essay for Me” and Relax! You will get an original essay well before your submission deadline.
