The Year 2024

It's the year 2024 and I'm 28. The government realized the of the Bush tax cuts and the other expenses the government couldn't afford to pay for after the United States fell off of the fiscal cliff in 2012. Now, there are increased tax rates for everyone and the wealthy are paying their equal share. The tax code has been rewritten to rid it of tax loopholes in order for the government to gain more income from Americans. Some government assistance programs have been cut to save money. In result, Americans have become less dependent on the government and more reliant on themselves to fund necessary expenses. Another thing that's changed are the financial responsibilities of Americans. All the expenses we used to rely on the government for are funded by ourselves, which has led to an awareness and necessity to bank responsibly save and maintain a balanced budget.

As a result of cutting back on money consuming programs, the national debt has decreased, but there still is three trillion dollars in debt. Currently, there is a steady decrease in the deficit. America has become aware of the mistakes the past governments and presidents have made and have taken what they've learned from those mistakes into account. By doing this, the government has been able to execute a plan of action and is setting aside a larger amount of money to be used in an emergency situation. Although these past years and the few years ahead have been and will continue to be rough as Americans have to shell out more of there income, being able to rid of our large amount of debt has amounted to a happier, more optimistic and economically satisfactory America.

Now that the debt seems to no longer be an economic issue, what regulations and provisions will be imposed on Wall Street to avoid another housing market crash or economic disaster, which could cripple America again?