The Free Enterprise System and Entitlement Programs

This week in Econ we learned about the American Free Enterprise System. We learned about the role the government plays in the economy, what makes a public good, taxes, and government spending.  We learned about the different types of government spending. There is mandatory spending which is required by law and discretionary spending which has to be approved each year. Mandatory spending makes up more than 50% of the government's spending.  Some things that fall under mandatory spending are entitlement programs. Entitlement programs are programs that are funded by our tax dollars to people who meet a certain requirement to receive them. Some examples of entitlement programs are medicare, medicaid, and social security. These are a big cost in the budget each year because there is a set amount that the government has to pay on them. I personally believe that the requirements to receive these entitlement programs and others like them should be revised and made more strict. These programs are putting to much strain on the budget. We have had a huge deficit with our budget for years. This is still relevant today because many people advocate that we get rid of social security, medicaid, and medicare all together. They do not realize how lengthy a process it would be to get rid off these programs or what damage it may cause. However, I do agree that these programs need some re-advisement.