Consumer Spending In The United States

In The United States these past few years everything has gone from bad to worse dealing with spending money; which has developed economical problems, such as debt. Currently people are spending their money on things that they do not need such as iPods, MTV, and so on. They buy things to satisfy their

The economy is a very fragile thing; however it can have an enormous impact on people. Americans especially are affected because they are so greedy, they always want more. Because Americans are very materialistic, they can become overly arrogant and possessive since they are used to getting their way, on account of having money.

If our government didn’t spend anything would we have any type increase in our economy? I do not thing we would. Who would pay for the necessity things we need in order to thrive as a country. How would we keep up with our transportation system, invest in our future or keep us from totalitarianism? We have to have some type involvement from the government. I the 2016 election outcome came due to the fact that a lot of people felt like President Obama and his administration implicated too many policies that increase government spending. Such policies geared towards health care reform and income inequality. All in which increased taxes for each individual. I think a lot of people feel like the last eight years of government spending cost the tax payers a lot of unnecessary money. People were paying taxed for programs they didn’t support or agree with. “In fiscal year 2015, the federal government spent $3.7 trillion, amounting to 21 percent of the nation’s gross domestic product (GDP). Of that $3.7 trillion, over $3.2 trillion was financed by federal revenues. The remaining amount ($438 billion) was financed by borrowing. As the chart below shows, three major areas of spending each make up about one-fifth of the budget” (Center on Budget and Policy Priorities). This article outlines the major areas of spending which are

The United States department of commerce found out that the nation is becoming weaker. Economy had increased how consumers blow their paychecks on unnecessary items. For example, many Americans are not able to pay their rent, yet still buy play stations 4 and a 52 inch plasma TV. Most Americans spend money when going to a gas station, in game purchase or paying full price for clothes. People who pay for items in full price should be more responsible with their money. However, Alyssa Battistoni

government spending and as a result, we are seeing an accumulation of debt that continues to

# (Bernard 2015) Although lower gasoline and consumer prices should help lift purchasing power and sustain real household spending, it likely won’t be enough to counter the trend of easing growth in household spending in Canada. Soft employment growth, weak wage gains, the high level of household debt, easing real estate markets, and the threat of job losses in oil-rich provinces will combine to take some of the steam out of real consumer spending in 2015—even as overall inflation falls to just 1.2 per cent.

The U.S economy is a mixed economy and it is the largest in the world. It accounts for 17 to 22 percent of the world’s GDP. Consumer spending in U.S accounts for 70% of the national economy. People generally spend on necessities like food, housing and clothes and on buying non-essential goods and services that fall under discretionary spending category. With a huge reduction in gas price and unemployment there is a steady increase in discretionary spending these days. According to U.S bureau of labor statistics consumer spending increased 3.4 percent in 2015 after advancing 4.2 percent in 2014.

The desire to achieve the American Dream was an important ideal in the 1950’s and many families modeled themselves after what they saw on television. Once television sets began to be a staple in an average family’s living room, the family changed. Television shows depicted the “perfect” image of an American family. One with a mother, father, son and daughter, a “nuclear” family. The mother was most often times depicted as a housewife, with the husband a breadwinner, coming home late and having to scold the children, most times ending with a chuckle from a studio audience.

British consumers and credit continue to increase more than a century, with high rates this is putting families under pressure and with the economy heading for a setback due to the Brexit vote. Whilst the wages are slow moving this has added to the low income for families, which is over a million households struggling with the utmost debt, ‘Trades Union Body the TUC and public sector union’.

In the past 10 years, there have been numerous economic changes in the united states. Between inflation, unemployment, the GDP and changes in government leadership, how money is spent and saved regularly changed throughout the decade. These economic habits can be different based on age, race, gender, location, education levels, and spending habits reflect each of these variables. Today i will explore these variables, how things have recently changed based on then, and how i believe things will change in the near future.

The reason we spend more money that goes back to the economy is because of the supply and demand system companies take notice of how much the consumers buy of their product so they produce more in order to keep a constant flow of money going to the economy.

In 2008-2012 percentage of government spending rather high because America had to face with financial crisis, also know as the Global Financial Crisis. Many economists concluded that this financial crisis have been the worst crisis since in the Great Depression of the 1930s. Most of American be unemployed. It was a big problem and effect to financial institutions, which was prevented by the bailout of banks by national governments, but stock markets still dropped worldwide. In many areas, the housing market also got an effect and suffered, resulting in evictions, foreclosures and cause a lot of unemployment. The crisis cause a significant role in the failure of key businesses also, declines in consumer wealth estimated in trillions of U.S. dollars. This is the reason why percentage in year 2009 was highest because of the effect of financial

Consumerism is the center of American culture. Americans tend to confuse their wants with their needs. With new advances in technology, as well as the help of advertisers, people are provided with easy access to new products that seem essential to their everyday life, even though they have survived this long without them. People cannot live without food, clothing, and shelter. But realistically, according to people's different lifestyles, more than food, clothing, and shelter are needed. Most people need to work to survive. Unless a job is either in their own home, or within walking distance, a means of transportation is needed. Whether it be a vehicle, money for a taxi-cab, or a token for a ride on the subway, money must be spent

In the first element of this assignment, we were instructed to record our weekly spending. If you refer to my appendix you can see an organized spreadsheet of every item I purchased for the week of 9/13-9/19. The way I spent my money over the course of just a week was a real eye opener for me. Nearly all my spending was on discretionary items such as fast food and clothing. I consider fast food discretionary because the week before this assignment I went grocery shopping and had food at home. I also did not need the clothing items I purchased, they were more of a material want. The only non-discretionary purchase I made was on packaging items such as boxes, envelopes, tape, and printer ink. I consider these items non-discretionary because

1. The global financial crisis did not reduce my income, but I think that if I did see reduced income, I would either cut back on discretionary purchases or I would buy cheaper brands. Certainly with things that I have to buy, like food or toiletries, cheaper brands are usually purchased. This contrasts with products that are completely discretionary, where my consumption might be severely curtailed or cut back entirely. The reason for this is simple. When there is less money to go around, and there is a decreased optimism about future income, one must align purchases with the financial situation. Using debt to maintain spending levels is a bad idea when there is an economic crisis that reduces one's expectation of future income. Thus my own spending habits do change when my income levels go up or down, and the same is true for most people, so that in an economic crisis more people are reducing their spending than are increasing it.