At that time, US faced a high level of issues with respect to their economic structure. However, inthe economy recovers from the impact of Katrina and registered a GDP growth rate of 4. However, after five years of its implementation, it was quite apparent that the government policy was a failure and waste as according to John Irons and Lee Price the tax cuts was aimed at business owners and richest Americans rather than the average end user or consumer whose augmented demand and spending would have made it rational for businesses to invest p.
The fluctuations become very common scenario, and it creates trouble in handling the economic structure. An overview of US economy The economy is the most important indicator to judge the internal living conditions and social development of any country.
They need to perform well on the continuity basis and need to contribute for national welfare rather than individual growth and development. In fact, before the end of nineteen twenties, almost every house had electricity.
The country still enjoys economic hegemony and with its macro economic programs in place the country will definitely hurdle the current economic challenges the country is facing. Technologically the US has seen highest advancement and development that is sufficient enough to grow the economy as compare to other countries.
Other than this the expenditure upon the security of the country from outside attack is something that has affected the US economy negatively. Another problem that America started to face is related to high import ratio as compare to export.
They need to grow the agriculture sector and need to increase their export ratio of natural resources. The country spent billion dollars every year to protect their territory or boundary. It helped in generating the job, revenue for the country through various processes.
However, it slowed down in and even entered a recession in the first quarter of The unemployment was steadily rising during this recession years, which finds its peak in June at 6.
The impact of terrorist attack took place at world trade center could be realized after a long period. It provides information about the development of basic factors like health, education, happiness, infrastructure, living standard, etc.
In the paper presented by the U. To stabilize the US economy and to pass the benefits of American citizens, the government has put various efforts.
However in future there are certain problems which could be faced by the US government like lower income people, unemployment, low saving ratio, rapid increment in the pension and medical cost of old age population, energy-related issues, problematic relations with other countries, pressure to create employment, budget deficits etc.
Further, the GDP rate is also increasing with an increasing rate and has been reached to Conclusion Despite of the looming economic recession, the US economy remains strong and capable to survive the economic challenge ahead as the US economic history since the Second World War is concern.
Amadeo noted that analyst forecast GDP growth rate for the rest of and beyond to be between 2 and 3 percent a year citing the Congressional Budget Office CBO forecasts growth to be 2.
Further, the role of technology within the US economy is also remarkable. Unemployment can either be a loss of job and the time spent for looking a new one, or seeking job after a period of being out in the labor force. When the investors of those Wall Street closed down their businesses, most American lost their money and left without anything to sustain their lives.
It just created the trade deficit and most importantly the value of the dollar was depreciated as compare to other currencies.However, the most recent economic survey shows that the rate of unemployment in the US has been on the decline and stood at % in August down from % in July and % in the year according to the US economic survey (Yates, ).
The economic problems that are plaguing the United States economy at the present are numerous to say the least. Since the collapse of the Housing market, the United States has experienced what some have come to call an economic recession.
The economy of the United States no doubt is still the world’s biggest economy despite of the looming economic depression - The Economy of the United States introduction.
The country still enjoys economic hegemony and with its macro economic programs in place the country will definitely hurdle the current economic challenges.
Below is an essay on "United States Economy" from Anti Essays, your source for research papers, essays, and term paper examples. The United States’ economy is essentially the base of society. However, throughout history, as the economy has grown, serious problems have come up.5/5(1).
Essay about Immigration and Its Effect on the United States' Economy Words | 7 Pages Immigration and Its Effect on the United States' Economy The s have brought the largest influx of immigrants into labor force of the United States of any decade in this nation's history.
The U.S. economy is no longer an autonomous entity.
Rather it is increasingly part of a globally based economy. This means that companies which formerly existed only in the United States, like General Motors, are opening plants in foreign countries, thereby utilizing the cheapest labor and resources they can.Download