Big Data Research Paper
28 September 2019
The fundamental purpose behind public economic choice involves the optimal and strategic allocation of governmental funds. Political distractions often clutter these economic choices and ignore the good of the people on which our American democracy is based. Purposed to monitor such distribution of governmental funds, the National Priorities Project (NPP) organizes the amount of money allocated to certain programs, causes, and subnational entities that are hugely dependent on federal dollars. In doing so, the NPP jolts popular awareness of political decisions that are being placed into effect by our current government and proposes a different, more democratic prioritization of our resources (Institute for Policy Studies).
In light of the prior election of Donald Trump has become a working American required to pay a considerable portion of income to our government, I became hugely interested in the means of this national institution and my say in its purpose through the election process. The function and the platform of NPP simplifies the numerous and cluttered governmental objectives by summarizing them through governmental expenditure. In our current political climate with officials being influenced by several linkage institutions, it is increasingly difficult to identify the purpose behind governmental decisions and programs. Being able to pinpoint the spending of the government to certain causes allows me to more clearly understand its main agenda. This capability is enormously significant to me in the sense that it resembles the strength of our democracy: if people cannot check the government, we will grow more and more distant from its functions and its applications of such functions.
In approaching my research within NPP, I plan to review and analyze NPP's articles and news, checking to make sure that instances of government spending are consistent with that which is informed to the people through outlets such as the media. Similarly, I plan to examine the stances proposed by NPP to "prioritize peace, shared prosperity, and economic prosperity for all" in government, which is the stated purpose of the project (Institute for Policy Studies).
Big Data Research Paper:
Public economic choices typically focus on regulation-making agencies of the Federal government as set out in the constitution. The implementations of political frameworks that promote certain economic policies also have to be taken into account, setting and justifying the context of implemented policies CITATION Bek09 \l 1033 (Bekkers, Doeswijk, & Lam, 2009). The paper will be an analysis of NPP’s articles and news that investigate governmental spending, and will be revolving around the thesis statement that the government should recognize the important role that public economic policies play in the promotion of participation and rights of American citizens, and in monitoring the Government’s performance and accountability, as well as in the delivery of services.
The National Priorities Project (NPP) aims at supporting and accelerating the achievement of the vision Americans share in moving towards self-reliance in the future. Subject economic policies go a long way in impacting government objectives as well as governmental expenditure. Just as is the function of NPP, these policies help in specifically examining and handling the short- and medium-term impacts of the country’s democracy CITATION Nat03 \l 1033 (National Center for Education Statistics., 2003). The NPP was developed via a multi-stage process of consultation with governmental partners, including the multilateral and bilateral stakeholders, civil organizations and departments in government. In various periods, the government may additionally commit to rational fora like Donald Trump's triumph in the last national elections.
Understanding how fair the government has been to its people concerning its spending has to put into perspective the National Priorities Project. The US federal budget acted as a powerful resource. At an aggregate amount of $4.5 trillion, the budget approximates a fifth of the country’s economy CITATION IAE05 \l 1033 (IAEA, 2005). More so, these resources come from the people themselves, according to the government for the people and by the people.
There exists a lot of power in the shared resources and funding. Such a power can be harnessed in making the lives of Americans better, in creating a more humane and just society. On the other hand, the power may also be used in perpetuating the destructive cycles of militarism, war, oppression, and violence which go back to the country’s establishment and the time before CITATION IAE05 \l 1033 (IAEA, 2005). Budgets are essentially moral documents. It the government’s responsibility, which is the Americans themselves, to create a federal budget that upholds the most cherished values of the country.
One of the controversial areas that have been considered in this endeavor includes financial accounting for the state and local school systems. Primarily, a large part of the government’s activities of financial data lies in the action of coming up with budgets. Budgeting refers to the process of placing resources in prioritized commitments of a parastatal. In a majority of the cases, for public entities, the budget stands for the legal nature of spending money CITATION Nat03 \l 1033 (National Center for Education Statistics., 2003). Adapting to a budget in the governmental sectors means that the made decisions are made in the administrators and governing boards which culminate in the government’s matching resources having the needs of the subject entity. As a result, the budget acts as a product in the process of planning.
The performance evaluation of budgeting, as conducted by NPP, allows the taxpayers and citizens to hold administrators’ policymakers in the governmental departments and organizations accountable for the actions they take. Due to accountability to subject citizens, it is often stated explicitly in the state laws as well as in the state constitutions, it has often been an edge of financing and budgeting reports have often noted the significance of accounting to a few objectives the government usually have CITATION Nat03 \l 1033 (National Center for Education Statistics., 2003). These include the need for financial reports in providing data in determining if the current year’s revenues had been needed in paying for the services of the current year.
There are also there to confirm whether financial reporting needed to demonstrate where resources were obtained and used according to the legally adopted budget of the subject entity, which in this case is the state and local public schools CITATION Nat03 \l 1033 (National Center for Education Statistics., 2003). The other objectives include checking whether the financial reporting needs to provide information in assisting users in the assessment of the services, accomplishments, as well as costs of government entities. Meeting such goals needs preparation of the budget, one based on the couple accountability concepts. Accountability may often be established through incorporating these goals into the legal mandates which need local as well as state budget sectors to be catered for.
The US is among the countries in the world-leading in rich natural and financial resources. The meaning of this is that the federal government has the chance of transforming this wealth into long-term sustainable development initiatives CITATION Bek09 \l 1033 (Bekkers, Doeswijk, & Lam, 2009). Unfortunately, such has not been the case, as there still exist weaker institutions, a more extensive likelihood of conflict, a rather distorted economy, as well as less development after having exhausted their mineral wealth.
The phenomenon, commonly termed as the resource curse, has ties to the special traits of resource wealth CITATION Bek09 \l 1033 (Bekkers, Doeswijk, & Lam, 2009). These include that of the revenues being exhaustible, finite, limited and large to a certain specific geographic location. The curse is not necessary given, but what is certain is that policymakers and the public sects in a resource-rich country like this one need to make choices that will lead to sustainable wealth. In the last decade, academics and practitioners have often worked towards identifying the decisions made by the government.
Identifying the decommissioning costs is also an aspect to consider. Available big data indicates an evolution of the costs of decommissioning in the last 25 years, from the cost ratios of decommissioning of earlier smaller facilities, to down to up estimates. Such is where the detailed structure and equipment inventories are analyzed as well as estimating decontamination, packaging, removal, disposal, and transportation. The sophistication level of such estimates has managed has progressed to the point where desktop computers may track all estimate’s element CITATION Bek09 \l 1033 s (Bekkers, Doeswijk, & Lam, 2009). However, there has proved to be a broad spectrum of the facilities that need to be decommissioned, from research and power reactors to the small laboratories where research is done, creating a challenge in accommodating all the types of facilities in a comprehensive and single data bank. A novice for such a task may be easily over-limited at the prospect in the development of a complex cost estimate.
The international decommissioning community has learned to recognize such a dilemma as well as combining the subject sources of technical experts in the development of standard list costs of decommissioning virtually all the types of facilities CITATION Can97 \l 1033 (Canner, Mankiw, & Weil, 1997). The pre-decommissioning phase has often covered by all the activities related to the preparations or actual works in the facility. Such includes the conceptual and strategic planning studies in the strategies used in decommissioning, preliminary characterization of data accumulation, detailed planning as including decommissioning plan CITATION Can97 \l 1033 (Canner, Mankiw, & Weil, 1997). The phase has to include activities that are usually related to operations like spent fuel transfer, operational waste processing, and other decontaminations. Such activities can extend into the post-shutdown stage.
Big data available can easily provide advice on asset allocation. However, the part of that whole scenario that is worth criticizing is the magnitude of data generated. The shares by public administrators in the many not-to-profit and industrial sectors, businesses, and scientific research, which has indeed gone a long way in increasing in an immeasurable way, should also be considered. The data also include textual content, in the multimedia content, on a multiplicity of platforms CITATION Bek09 \l 1033 (Bekkers, Doeswijk, & Lam, 2009). With 90% of the generated data in the world standing out as being structured, the data indicates that by 2020, there may be over 40 Zettabytes of data that may have been generated, consumed, and imitated. With such a large presence of heterogeneous as well as complex data that pours from any time, anywhere, in any device, there may be an undeniably a Big Data era.
With regards to the data stratification concept as well as the ever-increasing advancements in technology, advocates may claim that later on, much of available data may be generated as well as shared through devices CITATION Bek09 \l 1033 (Bekkers, Doeswijk, & Lam, 2009). These include communication with one another over the different data networks.
Regardless, the growing data in the digital world may seem like having to out-speed the subject developments of the numerous extant that compute the considered infrastructure. Americans have also often had a typically strong sense of paying taxes. However, many citizens are not familiar with what the taxes are paid for. The NPP released its annual breakdown of the approach the federal government has made in spending every dollar of income taxes paid by citizens in 2019. The tax dollars looks at the manner individual income tax dollars usually get allocated in the federal budget CITATION Can97 \l 1033 (Canner, Mankiw, & Weil, 1997). Throughout 2016, more than half of all the tax dollars going to health care, basically to Medicaid and Medicare, as well as to the military and Pentagon. Unfortunately, mere pennies went to foreign aid, education, science, among other priorities.
Much of what the normal citizen is paying for is the reflection of the priorities of citizens, such as health care However, in the recent poll showed. Americans as wanting to spend less, not more on the military, an aspect that currently consumed close to a quarter of all the tax dollar CITATION Can97 \l 1033 s (Canner, Mankiw, & Weil, 1997). The aspects that some Americans need to the federal government to take part in, such as education, have been seriously lagging.
Conclusively, securing funding can go a long way in developing detailed projects. Certain budgets that cover every project’s life may be necessary for the needed monitoring of the related activities. Even though cost estimates actualized in the course of the process of planning can be used in determining the sizing of the bond goal, the exact project budget has to constrain more detailed information CITATION Uth17 \l 1033 (Sivarajah, Kamal, Irani, & Weerakkody, 2017). In short, the process of budgeting is an aggregate part of the needed management of the finances of any entity. Necessarily managing and planning resources of different entities play important methods, like site-based budge, are being insisted on at the school district administrators as well as the funding agencies need a heightened need level for the yearly expenditures as well as decentralized decision-making.
BIBLIOGRAPHY Bekkers, N., Doeswijk, R., & Lam, T. W. (2009, Oct). Strategic Asset Allocation: Determining the Optimal Portfolio with Ten Asset Classes. The Journal of Wealth Management, 12(3), 61-77.
Canner, N., Mankiw, N. G., & Weil, D. N. (1997, March ). An Asset Allocation Puzzle. The American Economic Review, 181-192.
IAEA. (2005, Nov). Financial aspects of decommissioning.
National Center for Education Statistics. (2003). Financial accounting for local and state school systems. (2003 ed ed.). Washington: National government publication.
Sivarajah, U., Kamal, M. M., Irani, Z., & Weerakkody, V. (2017, January). Critical analysis of Big Data challenges and analytical methods. Journal of Business Research, 70, 263-286.
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