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The Economy & You . Problems with our economy. What is an economy . Economy - An Economy is the wealth and resource of a country or region.
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The Economy & You Problems with our economy
What is an economy • Economy - An Economy is the wealth and resource of a country or region. • Our U.S. Economy 6 years ago was at a stable stand point. Over the past 6 years we have dealt with some of the hardest times in our U.S. history with a huge decrease of our economy. We are at an all time low in this year of 2012. millions are out of jobs, millions are homeless, we are in $16 trillion dollars of debt, and it is hard to think things will be getting any better.
three areas of Economic Consequence: • 1. The impact on inflation • 2. Consumer Spending, • 3. Auto Sales • (Mortimer B Zuckerman, U.S. News). • Each of these has affected our economy and assisted in the economic fall of 2008 in some way.
Stocks | Problems with our economy Stocks • Every day we see our stocks rising and falling (but mostly falling) leaving an everlasting impression on our economy and leaving hundreds and thousands without money that they had invested in these stocks.
Jobless | Problems with our economy • Over the past few years we have sold major companies to foreign ownership. • We have had a loss in many major industries, like steel, publishing, clothing, and automobiles. • We have had Uncompetitiveness in manufacturing. • We have more Outsourcing than insourcing, putting money into others countries and less into ours, and giving us less jobs to fill in.
Taxes | Problems with our economy Americans are being taxed more than ever before to help bring us out of this $16 trillion dollar debt. Depending on the class you are on how much income you make you are being taxed up to 16 – 18% of your earnings.
Outsourcing | Problems with our economy • Outsourcing has been a big help, but a big problem. We are putting money in another country lowering our economies income, which is so easy and cheaper to outsource, but it ruining the income of business’ here in the United States.
Consumer spending | Problems with our economy • The thing is if we had more jobs here for Americans, the consumer-spending rate wouldn’t be down so low because we would there would be more places to spend money, and there would be more varieties of items. • Consumer Spending is at an all time low
Oil | Problems with our economy • Oil is one of the United States greatest weakness’ we need the oil and we have the resources, yet the Government will not let us drill in these areas. We are outsourcing and spending nearly $150 for a barrel of oil. We need oil for almost everything. We spend more money on oil than on those who are in hospitals and are homeless.
Military | Problems with our economy • The Military spends billions of dollars each year in fact in 2010 they spent $663.84 billion dollars in • Operations and maintenance • Military Personnel • Procurement • Research, Development, • Testing & Evaluation • Military Construction • Family Housing • These men are willing to fight for our freedom, but do we really need to be where we are across seas or are we just trying to play big brother?
Poverty | Problems with our economy • Because of the issues our economy has millions in poverty, homeless, and jobless. We are in another great depression, and it will be hard to break free from this debt.
Problems with our economy • Every 2 – 4 years we can choose who we want to vote into class, in the executive, legislative, and judicialbranch. We make the choice of who we want to vote and who we want to control our laws.
Immigration | Problems with our Economy • Immigration is a big problem here in the U.S. We spend more money sending immigrants back to where they came than we do helping out those who are poor and those who are living under foster care.
Obamacare | problems with our economyObamacare - even though something may seem to good to be true it makes our economy suffer and pay big consequences. • Cons: • Increased coverage may actually raise health care costs. • About 4 million people, or 1.2% of the population, will wind up paying the tax rather than purchase health insurance. • In 2013, medical-device manufacturers and importers will pay a 2.3% excise tax. • Pros: • Services those who cant get medical insurance. • Parents can put their children up to age 26 on their health insurance plans. • Insurance companies cannot deny children coverage for pre-existing conditions.
Economic Record • of Past 4 Years • This is an Economic Record of when Obama was inaugurated until now. This is not all to blame on Obama, but this shows what has happened this past 4 years. We as an economy decide who to vote. We don’t know who will be able to get the job done.
How to raise our economyTo raise our economy we have to either resort to old ways or find new ways. If we do the same we have been doing we will only worsen the economy. • Less outsourcing more insourcing • More jobs and more consumer spending. • Lower taxes • Drill for more oil here in America • Cut Military Costs • Figure out a new way to handle immigration other than spending millions on sending them back.
Conclusion | Problems with our economy • These are only the basic problems that we have had with our economy there are so many other areas I could cover, we have so many problems, and it is hard to cover them all, but that is why we vote the people we do into class and Government. We believe they are the ones that can take care of all these problems. Over the past years it seems they have not done what we have expected of them. Will the next people we vote into class do any better? I don’t know, but we can only hope that they do to help save our country from becoming even more of a catastrophe than it already is.
Work Cited • Berr Jonathan, Consumer Spending Slows to a crawl, MSN Money, Jun 29, 2012.Web. Oct 3, 2012 • Heffner Thomas, “Major Problems Facing Our Country Today” Economy In Crisis, Mar. 15th, 2012. Web. Oct. 19th 2012 • RugaberChristopher S., U.S. economic data looks better on closer inspection, Salt Lake Tribune, Sep. 27 2012. Newspaper. Oct. 2 2012 • Schuman Michael, How High Will Global Oil Prices Rise, Time Business, Mar 20, 2012. Web. Oct 3, 2012 • Sidore Chris, Economists: Fiscal cliff a serious threat, but unlikely, CNN Money, Oct • 1, 2012.Web. Oct. 4, 2012 • Zuckerman Mortimer B., Why the Jobs Situation is Worse Than it Looks, U.S News, Jun 20, 2011.Web. Oct 3, 2012
