The United States Economy Will Be Average At Best - 917 Words

Before attending this college and especially attending your class I would have said that my knowledge about the United States economy would be average at best. I knew my political views and what decisions I would like to see government officials make based on them, but I really did not know the different domino effects that could occur when only one economic decision is made. By reading your book I like to think that I now have a better outlook on our current economic situation and also the events that have lead up to where we are today. With that said one chapter I really liked and focused on in your book was actually Chapter 2 The Buildup: 1999 to 2007. This chapter focused heavily on the some economic policies that helped fling the United States into the Great Recession. I have always believed that in order to better the future you must reflect upon the past and notice what you did wrong. This chapter provides four policies that nose-dived our economy to where it is today. While many people, and I also, believe that lower interest rates are a good thing, but when they actually just manipulate people into believing that once they can afford things that they really cannot obtain such as houses, vehicles, and recreational items. This with the combination of lowering the credit standards caused the household debt levels to skyrocket all across Americ a. Secondly, even though we have talked about Social Security in class before I am still astonished by how much itShow MoreRelatedThe State Of My State s Economy950 Words   |  4 Pagesfinance) in finance has had me wondering about the state of my state’s economy lately. As an accountant, Maine’s economy will continue to affect me professionally (and personally, being a citizen of the state) for the rest of my adult life. Even if all I ever do is taxes for other citizens of my state, to know the state of the economy here will change the way things are done. I don’t have enough space to go through everything that’s affecting Maine’s economy today, so I’m just going to touch on a few basicRead MoreInequality and Redistribution1384 Words   |  5 PagesInequality and Redistribution Income inequality in America is higher than in any other industrial nation in the world. Many believe this creates serious problems for both United States citizens and its economy. The inequality difference is continually getting larger and worsening these problems. Over the past three decades America’s economy has seen continuous growth; but this is accompanied with no increase in purchasing power for poor and middle class citizens. On the other hand, incomes of the richestRead MoreMoney Is What Makes The World Go Around1705 Words   |  7 Pagesindividual has to purchase one for a price or even multiple payments every month. In the United States, a person has to use money to buy basic needs such as food, water, and clothing. 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