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REFLECTION
The federal government plays a very important role in the economy. Its primary purpose
is to ensure agreements are kept and deals between various countries are fair to all involved.
They are responsible for taxes, the regulation of various aspects of business and brokering major
deals among companies and international markets.
In recent years, the federal government has stepped in and has begun having a larger role
within the economy. No longer does it work with companies when handling contracts. Now it
takes control of the trading process. It is estimated that almost 50 percent of the country’s
economy will be under government control after the national health care plan is finally in place
(Schlomach).
Decades ago, large companies could broker their own deals, enforce their own contracts,
and collect and transfer debt without the aid of the federal government monitoring its every
move. Today the opposite is occurring. With strict regulations placed on trading, borrowing and
investing, the government has gained a share of control in almost every process involved in the
operations of the economy.
What I have learned has only further confirmed my belief that the economy should be put
back in the hands of the business owners and investors with minimal involvement on behalf of
the government. While the government is vital in maintaining competition in the market place, it
is detrimental when it becomes involved in financial deals.
The federal government is gaining increasing control over larger and larger amounts of
capital through the operations of the Federal Reserve Bank. As the nation’s largest government
operated financial institution, the Federal Reserve Bank is in charge of bailing out large
corporations and maintaining control of government spending. If the country’s financial system
REFLECTION
had less participation by the federal government, maybe the citizens would receive bailouts
instead of the largest corporations in the world (Brodwin, 2012).

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