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¶ … United States Deficit, Surplus, and Debt Have an Effect on the United State's Financial Reputation on an International Level
The objective of this study is to examine how and why the United States deficit, surplus and debt have an effect on the United States' financial reputation on an international level.
The United States has been historically viewed as a country that is financially sound. In 2011, as the United States government appeared it was going to default on its debt it is reported that there was a great deal of "bitterness, division and dysfunction that resounded around the world." (Sanger, 2011, p.1) It is reported that the United States is experiencing a diminishing of its "aura as the world's economic haven and the sole country with the power to lead the rest of the world out of financial crisis and recession." (Sanger, 2011, p.1) Additionally, the United States debt levels have served to "chip away at the global authority of President...
International Monetary Fund
The head of the International Monetary Fund stated that in the past "there was always a positive bias towards the United States of American, towards Treasury bills" but that the events had resulted in that positive bias being negatively affected. Not only is the public perception affected by the debt crisis but as well, the governmental operations of the United States are affected in a way that drains the perception of the power of the United States and effectively does slow down technological progress and therefore lowers the perception of the prowess of the United States. For example, cutting funding for NASA will certainly result in the United States space program being stunted. The United States space program has always been a source of pride for Americans and a source of awe for other…
Works Cited
Levit, MR et al. (2011) Reaching the Debt Limit: Background and Potential Effects on Government Operations. Congressional Research Service. 11 Feb 2011. Retrieved from: http://fpc.state.gov/documents/organization/157101.pdf
Sanger, DE (2011) In World's Eyes, Much Damage Is Already Done. 31 Jul 2011. The New York Times. Retrieved from: http://www.nytimes.com/2011/08/01/us/politics/01capital.html?pagewanted=all&_r=0
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