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What is the Current U.S. Economic Situation Paper

What is the Current U.S. Economic Situation?

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What is the Current U.S. Economic Situation?

The United States of America leads in obtaining the biggest state economy in the world. It was projected to have a Growth Domestic Product of an amount reaching over fourteen trillion dollars. The American Growth Domestic Product in the state where several countries with the sum of money had similar purchasing control, was also in the lead, occupying a fifth of the world’s G.D.P in that same state. The American economy has been able to sustain a steady growth rate in its G.D.P backed by a minimized rate of unemployment and elevated levels of investment. The United States of America has been able to maintain the G.D.P global title from the year 1870. In addition, reports from several organizations indicate that the economy of China might go beyond American’s growth rate by the year 2016 (United Nations, & United Nations Conference on Trade and Development, 2010).

The majority of the American economy is categorized into services. In addition, it maintains the title of being the biggest producer, holding a fifth of the world’s production yield. America is associated with over one hundred out of five hundred biggest companies in the world. The country has also heavily invested in sixty percent of the universal legal tender and this makes it to be one of the most powerful investor in the global financial market. Foreign Investments in the United States have amounted to over two trillion dollars, which surpasses the double amount in any global country (United Nations, & United Nations Conference on Trade and Development, 2010).

The American industry market has captured foreigners from different parts of the globe and its rate of migration takes the global lead. The United States of America also acquires the title of being one of the highest financial performing countries in the world. However, in the year 2008, it suffered a great depression that was caused by imitative market, a supreme finance crisis and the decreasing value of the dollar. In the month of December, an organization known as the National Bureau of Economic Research reported that the American economy depression had started in the year 2007, adding decreased progress in employment and the production amount of goods and services. In addition, there was a decrease in the growth of Gross Domestic Product (United Nations, & United Nations Conference on Trade and Development, 2010).

The economic recession in America also led to a fall in trading investments from figures of over eight hundred to five hundred billion dollars in the year 2009. In addition, the rate of individual savings was affected in terms of increasing its percentage level. However, according to the budget of the United States in the year 2010, the overall debt was estimated to increase to almost one hundred percent of the Growth Domestic Product as compared to the eighty percent growth in 2009. In addition, the American government also estimated that the service debt would increase to extreme levels beyond over seven hundred billion dollars by the year 2019.

The main subject of the economy in the United States depends on the liberty offered to the private sector of business to handle most of the financial decisions in establishing the amount of production in the country’s economy. This would be made possible if the American government had less involvement in the area of setting economic and business policies. The employee population and their output on production are used as a great factor in establishing the growth of the American economy.

On the area of employment, over one hundred and fifty million American citizens have jobs and the United States government holds the largest employment title of over twenty million employees. Small firms employ most of the country’s population workforce to over fifty percent of employees. The large companies’ ownership of employees comes right after the small businesses with a level of thirty-eight percent.

Reference

United Nations & United Nations Conference on Trade and Development. (2010). World economic situation and prospects 2010. New York, NY: United Nations.

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