This political cartoon incorporates many aspects of what we have discussed in class so far. It points out the lack of trust we have had in our administration, the struggling GDP levels, the current debt our country is in, and the lack of worth our currency has.
The cartoon shows a "3 dollar bill," which obviously does not exist with George Bush on it. Although, Bush is no longer our president, this is a great example of the lack of trust this country had in him and the rest of the country's administration. Putting the president's face on a fake bill is clearly not a positive thing. Under his face it says, "Read my lips," basically mocking the lack of validity in the public announcements or statements he made.
On the bill it says GDP .92. Nominal GDP is the value of all good produced within a country. The United States imports so many more good than we produce that our current GDP is not very high at all. Obviously .92 is a bit or an exaggeration but the number is still very low. Improving the countries GDP could potentially help a significant amount is eliminating some of the debt we are currently in.
The bill also says "No new taxes ever." The promise of either no additional taxes or lowering of taxes has become a more prevalent statement made by administration. Not adding or lowering taxes may not always be a good thing. It can be used as an expansionary policy that encourages spending in the economy. If these tax cuts are not permanent than the increase in disposable income is not long term so people may still be hesitant to spend it.
The fact that the bill is worth three dollars which is not an amount of paper money being printed is undermining the value of the U.S. dollar. The economy has been struggling, which, we have learned can cause the value of a dollar to also struggle. So much money is being printed that the value continues to drop all the time.
The 4 trillion dollar debt the United States is also printed on the cartoon three dollar bill. Our total expenditures are through the roof relative to the amount of money we are making on exported goods.
This cartoon expresses several topics we have discussed in class. Most of them being negative but still demonstrating the issues the country is currently having with debt, GDP, and lack of trust in our administration. All of these problems are recognizable but are not easily fixed.
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