10 Interesting Facts About US Economic Policies - News and Society ...

The economy exists the way that it does within the United States for a variety of reasons. The policies that surround our economy are a huge factor in why things are the way that they are.

1. The US economy is the world?s largest. This is hard to believe given the current state of the economy, but it is still the world?s largest. Though the margin is much smaller than it used to be, the economy in terms of people and spending is still larger than others out there in the world marketplace.

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1. The United States makes up the largest producer of manufactured goods. China is quickly closing the gap on this, but as of now the US still holds the lead. Many believe that if things keep on track in this capacity that the US will no longer hold this position and have a hard time in gaining it back.

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1. The role of the government in the economy has increased dramatically over the last two years. Some view this as a positive but many view it as a negative. Though it has become very necessary in some instances, many blame the problems of the US economy on the government being too involved in creating policies that simply don?t work.

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1. The top income and corporate tax rates are 35%. This is staggering, particularly when compared to past tax rates. This makes it very difficult for top income earners or corporations to perform well as this is a very high tax rate to impose on them.

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Some prominent economists predict that the Chinese economy will be three times larger than the U.S. economy by the year 2040. This keeps in line with the trends happening now. Though there may be factors at work that could be changed up, many believe that it may be too little too late. This is a fact that many debate but even the thought of this is too much for some to handle.

1. In the United States today, consumption accounts for 70 percent of GDP. Of this 70 percent, over half is spent on services. The economy needs something to stimulate it and make it improve. Many say that the money consumers spend must be on goods and not just services, but this has been a trend that has been happening for awhile and only seems to be getting more significant.

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1. The U.S. Census Bureau says that 43.6 million Americans are now living in poverty and according to them that is the highest number of poor Americans in the 51 years that records have been kept. The policies have had to change up due to facts such as this. Though poverty was considered to be something very specific before, it is a reality and a picture that many of us never thought of before.

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1. The mortgage crisis is just one of a number of factors that have caused the US economy to plummet. Many blame the mortgage crisis as the catalyst that caused us to go into such a terrible recession. People are losing their homes at record high numbers, despite the efforts of the government to try and turn that around.

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1. The government deficit is at an all time high and is expected to grow given current trends and figures. The spending by the government is absolutely out of control according to many. If this were to be monitored and handled better then many believe that things could turn around.

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The United States has lost a total of about 5.5 million manufacturing jobs since October 2000. Not only does this highlight the unemployment problem, but the role that manufacturing has played in it. The US needs these jobs and manufacturing in some capacity for success.

The policies have shaped and been shaped by the economy. Many see a very bleak picture for the US economy and this is due in large part to the policies surrounding it.

MJ Frederick is quite interested in economics as well as informing students about which accredited schools offer a masters economics program online.

Source: http://www.wdynews.com/10-interesting-facts-about-u-s-economic-policies/

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