The Importance Of Growth In The United States

The economy continues to improve despite the last couple of years, by having an increased number of government budgets, increases number of efforts to reduce the public debt levels, and an export oriented growth

The United States is not only one of the largest economies in the world, but it is also one of the strongest economies compared to industrialized countries, and this has been proven in the last few years. Despite of what many people believe or see, U.S economy is booming and it will continue to boom during the year 2015. In the article “When the U.S Economy is the Envy of the World,” published by the MSNBC on December 8, 2014, its author Steve Benen argues about the U.S economic recovery in order to persuade U.S citizens and show them the numbers that prove that our economy has recovered. Benen (2014) also encourage U.S citizens not “to compare the current economic recovery to other recoveries that followed modern downturns,” but “to compare our economic recovery against other countries who dealt with similar circumstances” because according to President Obama, the U.S “has put more people back to work” than any advanced economy in the world (qtd. in Benen, 2014). There are strong evidences that prove that the U.S economy is in its best year compared to three years ago. The growth of jobs, the slight increase of wages, and the low price of oil have truly helped the U.S economy recover.

The health of the current U.S. economy appears to be growing gradually. The second quarter real GDP growth was 3.7% and the unemployment rate declined to 5.3%. The U.S Federal Reserve (Fed) is expected to raise interest rates in the near future when it sees clear signs of strong economic growth and improvements in the job market.

The news informs everyone on a daily basis that the United States has the largest economy and that it is looking to be in great shape since four years ago. To some Americans it seems otherwise. The unemployment rate in 2007 was 4.6% compared to unemployment rate in 2012 at 7.5%. The U.S inflation rate ended in October 2012 after twelve months was 2.16% which is 0.11% higher than the one in September. The U.S inflation forecast consists of apparel, education and

The United States economy currently faces several problems affecting people throughout the country. These problems are ultimately affecting the growth of the United States. The growth of federal debt and deficit is seen as a major problem by the people of the United States especially when many people do not see the next president doing much more to improve it. The unbalanced labor market and immigration’s possible role in that has also been a discussion for many American citizens. It is important to also address the inequality regarding income. The deep-rooted trend of the rich getting richer and everyone else declining or remaining the same has created a lot of anger throughout the country. Lastly, the housing market has a huge affect on the economy considering housing is the biggest asset and one of the biggest drivers of wealth. Federal debt and deficit, immigration and the labor market, income inequality, and housing have all had negative effects on the United States economy today, while also affecting each other.

To understand limits to economic growth you must know the meaning of economic growth. Economic growth is a sustained expansion of production possibilities measured as the increase in real GDP over a given period (Rittenberg, L. & Tregarthen, T.). The country’s inhabitants is now much larger and is living longer, which many programs such as social security and military retirement may not be prepared for. Many source of economic growth can be link to improvements in technology and increase rate of productive with less employees. Only thing that can limit production would be the lack of capital or resources.

We can gauge approximately how well the people in our economy are doing by measuring the unemployment rate. The unemployment rate is the percentage of people who are unemployed divided by the number of people who are in the labor force. If we observe the most recent data for unemployment, we can see that the rate is 5%. A month ago, the rate was 4.9%. A year ago, it was 5.1%. However, during the end of the great recession, the unemployment rate was 9.5%. Thus, our economy has come a long way from the recession in terms of unemployment. Another measure of economic prosperity is full employment. Full employment is the status achieved when virtually all the people who can work are

During the first year of his presidency the unemployment rate was at 10.3%, the highest that it had been in twenty-six years. Over the course of the last six years that number has steadily decreased to five percent.

"[…] the economy is doing great […] by almost every economic measure, America is better off than when I came here at the beginning of my presidency" - President Obama, 2016.

Our economy has gone down hill since Barack Obama stepped into office in the year of 2008. Our newly elected president, Donald J. Trump, has shown through his economic plan that he will bring back jobs and cut taxes drastically for everyone. In all, these major changes towards our economy will make America great

Americans have been bombarded by new worries in recent days with the war in Libya, unrest in much of the Middle East, and the seemingly endless series of catastrophes in Japan as reported by a recent Gallup poll measuring economic confidence. Added to that, there is a weak job market, increasing fuel prices, and fierce budget battles in Congress, obviously, it is clear the U.S. economy still faces

Recently, Obama has been claiming that he has been able to reduce the deficit by almost the three-quarters. The recent statistic shows that the president was truthful in what he said about it although the data of the year 2009 with the year 2014. According to the information by the president, the deficit as a percentage of GDP has reduced to 76%. Secondly, the president through the recent legislation has helped health care to be affordable and thus helping eighteen million people in the state

In my opinion, productivity growth is important to the U.S. GDP because if we do not have money coming out of what we are working for, there is no profit for the company which affects the economy . For example, the article states that the measures of GDP are disappointing and that they will continue to disappoint because of the number of people that are working and the number of hours they are putting in. Productivity growth is extremely important to have more employees working with higher wages which would help our economy grow significantly.

The current rate of GDP growth, according to the Bureau of Economic Analysis, is 2.7% (for Q3), and it was 1.3% in Q2 of this year. This rate reflects relatively slow growth, with challenges remaining in the domestic market and with sluggishness in Europe suppressing exports to that region. The rate of GDP growth is predicted to slow to a decline of 0.5% between Q4 2012 and Q4 2013, the US re-entering recession, according to the Congressional Budget Office's projections. These projections are based on the provisions of the Budget Control Act being enacted, though any observers are doubtful that this will occur.

The statei of the United States government at this time seems to be okay, but lets dig a little deeper. The GDP is up 18 trillion right behind China so the US is second. Another positive is that inflation is down making the tax on goods much lower. This means your hard earned dollar goes a lot farther. The unemployment is down, which is good, but when we look closer you can see that the labor force participation rate has dipped down quite a bit. Therefore, it is possible that the only reason that the unemployment rate is down is because less people are looking for jobs because they are fed up with not finding one. Another negative is productivity is down leading me to think that there is an issue occurring with the way the business may be funded or where the business gets their supplies. The national debt held by people has increased steadily since 2005