- Historical Documents
In general, terms, the U.S Constitution is the country’s supreme law. It was adopted on 17 September 1787. However, it was not until 1789 that this constitution was ratified. During this time, it was ratified by only 11 states. Though authored by several personalities, Governor Morris who hailed from Pennsylvania has been credited as the man who chaired the committee that drafted the constitution. Other members of the committee included John Dickinson, Thomas Jefferson, and James Madison among others (Ritchie et al. 56). The Constitution was created for a number of purposes. Of major importance, however, was to provide necessary guidelines for the engagements of the government in order for it to attain some balance to ensure no branch emerged to be more powerful.
The U.S Articles of Confederation, initially, served as the first constitution of the United States of America. Drafting of the articles commenced in mid-1776 and by 1777, they were ratified. By 1781, the articles were formally ratified by the 13 states. The articles were authored by the Continental Congress and served many functions. However, the main purpose was to act as the constitution of the United States of America.
Thomas Jefferson drafted the Declaration of Independence. This was in 1776, June. At a given point in time, the declaration acted as a symbol of liberty and as such, it was the most cherished document. Its purpose was to act as a symbol of liberty to the nation.
The federalist papers were as a series of articles and essays. James Madison, Alexander Hamilton and John Jay authored these articles and essays. Their goal was to promote the U.S Constitution’s ratification. These essays were dated around 1787 and 1788.
- Forms of Government
Communism is a theory of governance under which the social order of the state is structured based on the notion of common ownership. Due to this, the production factors, the economic and political ideologies are based on the need to promote communal ownership. This is very different from the capitalist form of governance. In current governances, communism is difficult to find. However, it was practiced by nations such as the Soviet Union. Marxism is a theory of governance whereby societal analysis methods are, in most cases based on societal conflict attentions.
Socialism is a system whereby social ownership is the main production means (Kemp et al. 49). It is also characterized by the economy’s cooperative management. A monarchy is a form of government whereby a single individual or household is embodied with the sovereignty. This is what is practiced in the UK. A dictatorship, meanwhile, is where governance is at the discretion of one powerful individual who dictates what should be done, for example the leadership in Botswana. In totalitarianism, a state has total authority over its subjects and the society. This is because of the high centralization of institutions.
- Money
The Federal Reserve refers to America’s central banking system. This system was created in 1913 through the Federal Reserve Act’s enactment. In essence, this was due to the financial panics that had taken place, particularly in 1907 (Greider et al.34). It was supposed to provide the federal government funds during difficult times.
A free market is a market structure in which the demand and supply forces determine pricing of the commodities. It is free from governmental interference. Any exchange is also based on a willing buyer willing seller basis.
Currently, the United States current debt is around $ 12.312 trillion. The debt is as a result of government borrowing in order to address development issues. The borrowing is from both the public and the private sectors. It is a right for every individual to benefit from taxes. Some of them have no capacities to contribute to the tax systems. Children, for example, should benefit despite the fact that they do not contribute. The taxpayer’s money is spent on several things. These may include provision of security to individuals and the state, provision of health, development of infrastructure, payment of salaries, provision of education among many other initiatives that the government may involve itself in.
My personal budget after graduation will highly depend on the duties and responsibilities that I will be having. Every citizen has a responsibility to pay tax to the government. Other expenditures such as rent or mortgage payment, paying to the health insurance, spending on food, purchasing of household items, the cost of raising children, the cost of maintaining a car and the basics such as food, clothing and shelter influence a person’s demands for money. Catering for all these and saving some into the bank is the best policy since it means that a person can afford some basics. As such, it becomes difficult to approximate the amount of cash one will expect or will dream to earn after graduation.
- Conclusion
This research is important in that it reveals several things. For instance, by being conversant with how the federal government spends taxpayer’s money, people will be encouraged to submit to the taxpayer in order to reduce the national debt. Through the various forms and types of government, people get to learn on the advantages and disadvantages of having a given or a certain type of government in place. This makes it possible for individuals to appreciate the endeavors of the government.
Works Cited
Greider, William. Secrets of the Temple: How the Federal Reserve Runs the Country. New York: Simon and Schuster, 1987. Print.
Kemp, Roger L. Forms of Local Government: A Handbook on City, County, and Regional Options. Jefferson, N.C: McFarland, 1999. Print.
Ritchie, Donald A. Our Constitution. Oxford: Oxford University Press, 2006. Print.
