Economic Critique

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To critique the current state of United States economics, we will discuss several factors to include unemployment, future expectations, consumer income, and interest rates. We will identify the existing effect of the economic factors on aggregate demand and supply. In addition, we will identify current recommended fiscal policies by government leadership. Our information, we will evaluate the effectiveness of the current fiscal policy recommendations from both the Keynesian and Classical model perspectives. To better understand the state of unemployment in today’s current economy a good place to start is with the Bureau of Labor Statistics (BLS) or the U.S. Department of Labor. It is important always to look at the history and trends that have happened in the years past when we look at the current state of the U.S. economy. This information is important in determining whether or not there has been will be improvement of the current state and if it will continue. The unemployment rate of the United States, they are currently standing at 7.4% nationally as of July 2013. This has been a decrease of 0.8%or 1.2 million people since the beginning of the year. Any kind of decrease is perceived in a positive way, but there is still a long way to go in the recovery. In looking back at the unemployment rates over the past few years, they reached a 20-yearhigh of 9.7% in 2010 and have been in a steady decline since. This trend needs to continue in order for the economy to get back onto its feet. The U.S. is somewhat meeting its expectations almost based solely on the housing market and stock market. The housing market is gaining ground and home values are increasing over the past few years after record lows. The stock market has been increasing and with this increase the average household income increases. There are still issues with consumer spending and the unemployment

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