World Economy and American Debt

There are not that many solutions to solving American debt. Honestly, most people are unsure of all the debt and more focused on decreasing the deficit. However, I did find more information on the economy of developing countries. There was an article in TIME that explained how the success of Alibaba foreshadows the success of the developing world. It even went on to say that people living in developed countries will most likely start to find jobs in developing countries like China and India (http://time.com/3401924/china-alibaba-ipo-world-business-trade-internet-economy/). Though this is a strong statement, I was not very surprised. The GDP (real) of United States and Japan is decreasing, while the GDP of places like China, India, and Bangladesh is increasing (http://research.stlouisfed.org/fred2/categories/32291). According to the CNN website, America's economy is growing nowhere near as fast as developing countries, particularly throughout the different parts of Asia. Although USA does not have the world's fastest growing economy, it does still have the largest economy, which the same website shows will not change for at least five years (http://money.cnn.com/news/economy/world_economies_gdp/). I also researched the reason for our debt. This became quite political, but one website clearly showed at what time the debt started to accumulate. It explained that if Presidents Ronald Reagan and George H.W Bush had correctly balanced their budgets, the debt would not have existed. In fact, it shows an alternate graph that shows how the debt would have been much lower if different paths were taken in the 1980s (http://zfacts.com/p/318.html). Of course, this website is highly biased, but it does give a reason.

Starting next week, I want to find the differences between developed and developing countries in fifty years. I need to see whether the economic and environmental gap between the two increases or decreases.