America faces an unprecedented structural gap between federal spending and federal revenue; and the political system is polarised over how that gap should be closed. Both problems have been a long time in the making, and neither is likely to go away even if a plunge over the edge is avoided” The Economist – 15 Dec 2012 Now what? The clustering of so much fiscal tightening at one moment in time was
The recession is all over the news, and how it is changing how American’s think, act, and spend today. In a recent article in USA Today, the effect of the recent recession and strained economy is reaching everyone, and reshaping lives. The weak economy is restructuring what people have grown accustomed to in past decades. The dismal economy is having a profound effect on life in the United States; from delaying marriages and divorce to reducing car and home ownership, and private school enrollment (Recession reshapes life in USA, 2011). The recent downturn in the economy is wreaking havoc on the American standard of living and forcing more cutbacks into an already frugal lifestyle.
This could cause some conflict in the government which would not help matters either. 15 million Americans are still out of work, and many citizens are questioning whether or not they should have trusted Obama. Gas prices have been a major topic as of late, and they will most likely continue to get worse unless a major change is made by Obama and the rest of the Democratic nation. The national average gas price has gone up a whopping 25 percent since Obama became President. The Democrats blame the Republicans for this high cost of gasoline because they link Republicans to big oil companies.
Around August of 2007, banks become afraid to loan money out due to the fact that they did not want to suffer from losing money yet again. “This led to the $700 billion bailout, and bankruptcies or government nationalization of Bear Stearns, AIG, Fannie Mae, Freddie Mac, IndyMac Bank, and Washington Mutual. By December 2008, employment was declining faster than in the 2001 recession.”(useconomy.com). With so many foreclosures on houses, many americans were either homeless, or had bought a cheap apartment to keep them from being homeless. Because of the recession, and bad economic, many Americans have no jobs, and barely have a house.
The author provides three pieces of evidence to prove the current standing of the housing market. He says that the crisis will only get worse in the months to come. Obama and his administration’s anti-foreclosure efforts have not been sufficient and that the new price drops could bring a bleak chapter for foreclosure. The author provides enough information to persuade readers with factual evidence that seems to have been researched. The author provides three pieces of backing to support each case of evidence that he brought to the table.
My goal: build a $1000 rainy day fund. Needless to say, we are through the first quarter of the year and my rainy day fund is as dry as our weather has been this winter. Could applying the ideas and perspectives presented in The Integral Vision by Ken Wilber help me to change my relationship with money and thereby improve my fiscal fitness? I decided to keep a two week journal and examine three key aspects of my relationship with money: how I earn it, how I spend it, and how I save it. A first step for me was to use the AQAL to examine some of the ideas and beliefs that I originally held about money.
The unsuccessful attempt to pass a strong enough stimulus package in 2008, the battles to continue unemployment benefits, the debt ceiling that impacted fiscal austerity when government should be investing in the economy, this corruption in our politics has done huge amount of pain in the average, 99 % of hard working Americans. According to our House Majority Leader Eric Cantor “there is too much spending that the United States is doing”. The recent bill passed by President Obama “The American Jobs Act” gave us only a quick hopeful mindset of policy debate before it, too, vanished in the take-no-prisoners
Democrats love tax expenditures for the less affluent. Republicans love the preferences they suspect will stimulate growth. Additionally, there are wide divergences about how the deficit savings from eliminated tax preferences should be used. Republicans like deficit-neutral solutions which invest all savings in lowering rates for growth. Democrats would like to spend those savings, either for compassionate spending or for Keynesian growth
This presentation seeks to examine as well as inform the audience about the current state of today’s economy in the United States. In particular, the lecture places an emphasis on the economy’s extreme recovery lag in light of the most recent recession and the reasons behind this drastic delay. It seems that the ball was dropped somewhat, so to say, when it comes to the recession of 2008 here in the United States. Furthermore, we are stuck in this slump that is taking a perturbing amount of time to recuperate from. The problem seems to lie within the U.S. economy’s income distribution.
The Federal Deficit How does the federal deficit affect us?. Unfortunately, The U.S Government is going through difficult times dealing with an enormous debt, which is around sixteen trillion by now and it is expected to rise up to twenty two trillion dollars by 2016. Perceiving or determining how that debt affects your daily life might be hard or you might even think that it does not affect you, but it does affect every single person living in the U.S and even foreign countries, even if it is little by little. Below, how the federal deficit affects you and a good solution to stop the federal deficit from increasing is explained. First of all, the federal deficit is like any other type of debt, which in this case, the debt is produced because the government's expenditures exceed its tax revenues and the reason this happens is that the Government borrows money.