Question

why is it that attempts to keep the federal budget from falling over a cliff are falling short? what kind of problem is this and how can it be solved?

Answer 1

Attempts to stabilize the federal budget frequently fail due to partisan disputes over spending and debt. The 2013 government shutdown exemplified these tensions. Solutions include bipartisan collaboration and clear fiscal policy planning, though the effectiveness of strategies like a balanced budget amendment is debated.

Step-by-step explanation:

Attempts to prevent a federal budget crisis often fall short due to political disagreements on spending priorities and the size of the national debt. The 2013 shutdown was a result of such conflicts between Republicans, who sought to trim spending and borrowing, and Democrats, who had divergent fiscal goals. The fiscal challenges included a high federal deficit due to the 2008-2009 recession and stimulus, alongside entitlements constituting two-thirds of the budget. The crisis was averted with a compromise that prevented default on the debt.

Addressing this political and economic challenge involves fostering bipartisan cooperation, setting clear fiscal policies, and potentially implementing measures like a balanced budget amendment. However, opinions differ on how strictly to adhere to such measures, with some arguing they provide fiscal discipline while others warn they'd limit flexibility in times of economic crisis.