...Evan DiLauro ECON 152 12/3/13 The State of the United States Economy By looking at the past five years of data, it is clear that the United States economy is in a state of rebound from the Great Recession. The data shows that before the recession the United States’ economy was operating at a solid level. The recent numbers show that the economy is on its way back to the state it was in before the recession hit. The Great Recession began in December 2007 due to major factors that lead to economic turmoil. Causes of the recession include failure of the federal to stem the tide of toxic mortgages, breakdowns in corporate governance, a excessive mix of risky barrowing by the households and wall street, key policy makers were not prepared for the crisis, and breaches in accountability and ethics at all levels. Due to the combination of these factors the Great recession was started and did not officially end until June 2009. During this time the unemployment rate took an all-time high and GDP growth was slowed down and at one point went negative. This was a rough time for the United States financially. Many people were in debt and did not have a job. The housing market also crashed, leaving Americans with little money and high prices on real-estate. Consumer cutbacks took a major increase, which also increased inflation, which lead to the decrease in GDP. Although the recession ended in 2009, it was the worst year for the United States unemployment rate. The annual unemployment...
Words: 1290 - Pages: 6
...CHAP. II. the State of Nature. Sec. 4. TO understand political power right, and derive it from its original, we must consider, what state all men are naturally in, and that is, a state of perfect freedom to order their actions, and dispose of their possessions and persons, as they think fit, within the bounds of the law of nature, without asking leave, or depending upon the will of any other man. A state also of equality, wherein all the power and jurisdiction is reciprocal, no one having more than another; there being nothing more evident, than that creatures of the same species and rank, promiscuously born to all the same advantages of nature, and the use of the same faculties, should also be equal one amongst another without subordination or subjection, unless the lord and master of them all should, by any manifest declaration of his will, set one above another, and confer on him, by an evident and clear appointment, an undoubted right to dominion and sovereignty. Sec. 5. This equality of men by nature, the judicious Hooker looks upon as so evident in itself, and beyond all question, that he makes it the foundation of that obligation to mutual love amongst men, on which he builds the duties they owe one another, and from whence he derives the great maxims of justice and charity. His words are, "The like natural inducement hath brought men to know that it is no less their duty, to love others than themselves; for seeing those things which are equal, must needs all have...
Words: 2846 - Pages: 12
...What is The State of the Economy? How is the U.S. economy doing in 2012? Based on my research…. It is not doing nearly as well as some may want us to believe. Although things look to be stable at the moment, I fear that the upcoming presidential election, dependent on which way it goes, could lead us spiraling down a path that will take us years to dig out of. We have accumulated way too much debt, we consume far more wealth than we produce, millions of our jobs are being shipped overseas, unemployment is at a 5 year high, family budgets are being squeezed more than ever, gas prices are out of control and the housing market will take years and years to recover. Let’s start with the United States Deficit, which is currently at $16,202,358,883,742.16 and rising. The National Debt has continued to increase an average of $3.89 billion per day since September 28, 2007. Another contributing factor to the poor running economy is the unemployment rate. The unemployment rate is currently at 7.8%. Although it has declined in the past month it has nearly doubled since 2007. The percentage of working age Americans that have jobs is not increasing. The employment to population ratio has stayed very steady (hovering between 58% and 59%). If you gathered together all of the workers that are "officially" unemployed in the United States into one nation, they would constitute the 68th largest country in the entire world. We need to start looking in our own backyards and stop...
Words: 564 - Pages: 3
...The Sunshine State By: AlanV Florida, the peninsula of the United States, is one of the most relaxing and warming places you can go in the U.S. to take a break from your everyday life. It has fresh air from the calming palm trees that inhabit its streets. Its days usually consist of sunlight, followed by nice, warm, breezy evenings. And to top that all off if relatives live there it’s a great place to come together. When people think of Florida, they think of Miami, and question how they’re supposed to relax in another city. Well, Miami isn’t the only place you go to in Florida. Places like Orlando or Tampa are just as great and have their own unique features to them. It is not without it’s issues, however. Although it seems amazing due to its easy access to the beaches, that is also why it can be quite annoying. For example, if you were in Nevada you would feel a heat that you would describe as dry. This is because it is not close to any source of water and happens to be a desert. You feel very hot but never break into a sweat, even if you want to. Florida, however, has the opposite problem. When you start to exercise or even walk for a little you start to sweat immediately. This is because the heat is very humid being so close to all the bodies of water. Even so, with so many options to choose from such as an Orlando, Miami, or Tampa, there is so much to do that you won’t care that you sweat a little. You’ll just always remember to bring a bottle...
Words: 396 - Pages: 2
...Insecurity in our nation: Examining the call for State Police. As it has been widely reported, the question of State Police has again come to the fore like sore thumb. In the past few months, Nigerians have been exposed to more argument about the merits and demerits of having State-established and controlled Police as opposed to the centrally controlled, Nigeria Police Force. Also, in these same past few weeks, it seems as if a new low has been reached in terms of insecurity which made people to start calling for a State-controlled Police. Even with the prevailing insecurities, the Governors of the States in the North stated unanimously in a recent gathering that they are not ready for State Police. This is in-spite of the initial agreement reached with Southern Governors to ask for State Police which in essence means a decentralization of policing, an outright removal of policing from the exclusive list of jurisdiction of Federal Government. Prior to this scenario, the Governors, in their respective States can be described as having firm and absolute grips of instrument of coercion such as even the Nigeria Police. Granting them further powers to establish State Police, will certainly go to confer on these Governors an awesome power which is comparable only to that emanating from the ladies of their manors. With a State Police established by the Governors, who is that private citizen, politician or a political party that would dare challenge their authorities...
Words: 2176 - Pages: 9
...RSST Task 1 Kayode Bristol Western Governors University (SST1) This essay will endeavor to explain the characteristics of the nation-state and transnational entities by first providing modern examples of the following categories: Nation, State, and Nation-state. Initially, the United States with be excluded from examination. However, the United States will be used a model for modern nation-state. Attributes of the United States, such as, fixed territory, sovereignty, and common culture will be explored in order to demonstrate how the United States fits the model of modern Nation-state before briefly describing 2 of the United States’ foreign policy objectives. The European Union, a prime example of a transnational entity, will be explored, starting with a description of the historical events and interests that led to its creation. The structural and functional attributes of the European Union will then be explored before delving into its foreign policy objectives. At this point, the reader should have a thorough understanding of nation-states and transnational entities from both an academic and practical perspective through the use of modern examples. The foundation help to facilitate the exploration and analysis of the interaction of transnational entities and nation-states as it pertains to the foreign policy objectives of each. Finally, we illuminate the consequences of these interactions and its effect on international politics. A nation can be roughly defined...
Words: 2490 - Pages: 10
...Dreze Griffin Humans in a State of Nature Without an overarching authority, the comfortable life we know today would not be possible. The purpose of government is to protect property rights and to provide for security of its people. In a state of anarchy, this protection and security would be non-existent. This would cause humans to have to provide their own security and protect their own property. The debate on how humans would act under these circumstances was greatly examined by 17th centuries philosophers Thomas Hobbes and John Locke, and 18th century philosopher Jean-Jacques Rousseau. Each philosopher has different views on how humans would behave in a state of nature. Thomas Hobbes in particular is the most accurate in his description of how humans would behave and interact with each other. Like Hobbes, I believe that humans are only out to maximize their self-interests and in a state of nature, they will do so by any means possible. In The Leviathan, Thomas Hobbes takes on a realist perspective as he describes how he believes humans will behave in a state of nature. He writes that in such circumstances, humans are only out to maximize their own self-interests (Leviathan, Shifdar). I also take this perspective believing that in a state of nature, the main goal of humans is to obtain and preserve power. Basing my beliefs after Hobbes, I believe that to obtain such power, humans will attempt to do so by any means. In a state of nature, the most common way people will...
Words: 1078 - Pages: 5
...The theory of State of Kenya. To talk about my theory of state of Kenya, considerations must be made to the following factors. Firstly, we cannot talk about a state until we get beyond a single family and until a multitude of men and women (families, men, women and children) are united together. Secondly, a permanent relation of the peoples, both the governors and the governed, to a designated territory. Thirdly, there has to be unity of the whole, the cohesion of the state. Fourthly, the presence of a sovereign possessing authority. The state is not a lifeless instrument, a dead machine: it is a living and therefore organized being (Bluntschli, 2000). According to Mann (1993), the theories of state include class, elitist and pluralism theories. Mann further explains that according to the Marxist class theorists, the state is functional for modes of economic production and for classes. Modern states have been determined by a politicized class struggle, between the bourgeoisie and the proletariat. The pluralist theory on the other hand, only claim to explain only the modern democratic states. It is noted that pluralism consists of (i) the emergence of institutionalized contestation between politicians and pressure groups representing a plurality of interest in the society and (ii) the widening scope of participation by the public in the contestation. When combined, the contestation and public participation generated genuine democracy which results in the state representing...
Words: 1656 - Pages: 7
...Barbados Barbados is a North American sovereign island country located in the Caribbean. The capital of this state is Bridgetown. This state raised its head as an independent state in 1966 after being a Colony of the British Empire for almost 350 years. Category | Fact | Category | Fact | 1.Size | 439 Square km | 4.Religion | Christianity | 2.Population | 277,821 | 5.Currency | Barbadian Dollar | 3.Language | Barbadian | 6.GDP Rate | $16,653 | The main resources of Barbados are Petroleum, Fish, Natural gas, Sugarcane etc. The national symbols of Barbados are Neptune's trident, pelican, and Red Bird of Paradise flower (also known as Pride of Barbados). In Barbados Queen Elizabeth II is the Head of the State and represented locally by Governor General which is at present Elliott Belgrave. These two heads are advised by the Prime Minister of Barbados who is also the Head of the Government on matters of Barbadian state. The current Prime Minister of Barbados is Freundel Stuart. ...
Words: 64439 - Pages: 258
...State of Union paper Minimum Wage President Obama raises minimum wage by a Democratic plan. The minimum wage for workers under federal contracts; he wants to raise it to $10.10. This has been pushed by Democratic lawmakers, applies to all contractors that are having federal government, and would affect more than 2 million employees. Over three years it will eventually raise the minimum wage for tipped workers. Reviewers of the minimum wage push that raising the rate could have an opposing effect, discouraging businesses from hiring more workers at a period of time when the government is trying to job growth. Obama is staging the issue as he tries to focus again on the economy. Obama does not have the power to individually raise the minimum wage for private zone workers, also used last year's State of the Union speech to call for a federal minimum wage hike. No one who works full time in the United States should have to live in poverty. The new order affects only future contracts, not existing ones, and would only apply to contract renewals. The order would benefit far fewer workers than the number predicted by officials of federal contract employees. Obama does not want to become lamer than he already is so he is trying to make this plan the best he can. Minimum wage is a recurrent issue that has taken on a higher profile the slower recovering economy and growing public discuss about income inequality. A University poll this month found 71 percent of US citizens are in...
Words: 378 - Pages: 2
...quality life standards to individuals, is normally associated to the state insomuch reference is generally made to “welfare state”. The welfare state is based on ethical ideals: it is created in the name of social justice, to implement the fundamental rights and freedoms of human beings (as developed from time to time in the various cultures). Stuart White wants to clarify in the Oxford Handbook of the Welfare State, the main ethical arguments, which are inherent in the creation of the welfare state. First of all a process for the achievement of the basic needs of the citizens (questionable what are the basic needs), latterly equality, seen as same opportunities without racial or social influence, and lastly liberty, conceived as ‘negative’ liberty of coercive ‘redistribution’ in order to achieve a moral and social congruence between all the individuals. However, welfare state, even if based on ethic-philosophical findings, has many implications and effects in the economic field. As Briggs (1961) argued, the welfare state is an organization whose purpose is to modify the market forces in at least three directions: (I) ensure to the individuals and to the families minimum incomes; (II) decrease the level of insecurity; and (III) assure the best standard available of social services (Cittadini 2015). ***** Modern concept of welfare state originates from the extraordinary impact of industrialisation and...
Words: 1603 - Pages: 7
...Luis Daniel Meisel Would you back me up what you just said Mr. President? As any other politician’s speech in the world, information is accommodated to meet the emotions of a crowd thirsty of prosperity. The state of the Union is not exempt. President Obama delivered a speech that lacked in many cases statistical analysis to support what he said. In the speech however, many issues were mentioned some of them which I agree with him, some of them not. Therefore, this lecture left us with a lot of information that deals with international economics. My job on this essay is to express my opinion upon three issues. The economic deficit of America, American exports and local manufacturers, and last insourcing jobs and tax cut for businesses. First let’s talk about the American deficit that is based on the money this country owes to the world. Let me tell you that this is one of the favorite issues that politicians always use again and again in the State of the Union. It is an opportunity to threaten American population, to give wrong numbers of recovery and to create false enemies where all the Americans United fights against a virtual financial enemy, nowadays China was the one elected. President Obama said that the deficit is falling more than ever after WWII. I would like to have asked him. By what percentage change compared to every year of the past century of America is the deficit falling? The deficit would never be paid for two reasons, one is because many of the people...
Words: 745 - Pages: 3
...known arguments between the Founding Fathers centered on power. Some, the anti-federalists, believed state government should have greater power as that government would be more responsive to public needs. Others, the federalists, believed that a strong federal government was needed to prevent majorities from dominating public minorities and to ensure the nation united for national security, economic, military, and other important purposes. INSERT CITATION 1 HERE. This amendment, in short, grants states far more power to regulate and legislate over the public, including private enterprise, then the federal government ever can. The federal government, however, does have some very powerful rights to legislate and pass laws that also affect private enterprise and state government. INSERT CITATION 2 HERE. The rights of states and the federal government over commerce, however, remain contested, as the State of Confusion and Tanya Trucker’s situation indicate. Facts The State of Confusion enacted a statute that forces all trucks and towing trailers that use its highways to use a B-type truck hitch. The hitches are only made by one company in Confusion. The result of this law is that all truckers who want to drive through Confusion must stop outside the state’s borders, install the B-type hitches or they are not permitted to drive through the state and must detour around it. The State of Confusion was able to enact the law because the federal government does not already have a law regarding...
Words: 717 - Pages: 3
...State of Confusion BUS/415 March 21, 2012 State of Confusion The State of Confusion passed a law that requires trucks, semi-trucks, and tow trailers that uses its interstate freeways to use a bravo-style truck tow hitch. The problem with this hitch is that only one company makes these types of truck hitches within the State of Confusion. The consequence of this law is that any drivers or truckers who want to drive their way through Confusion has to stop and have the new one mounted, or make their way around Confusion. The national administration has not made any effort to legalize the truck hitches used on the country’s freeways. One trucking company owner in the state of Denial name Tanya Trucker is not content with the extra cost this law inflicts on her company. Her intentions are to file a suit against the State of Confusion to turn over the law. In Tanya Trucker case versus the State of Confusion, the United States District Court should have the authority over the suit. This law clashes with the Commerce Clause that legalizes divided highway business, so this case should be heard in U.S. District Court. The District Courts listen to cases involving federal issues and this law hinders the actions that influence legalizes divided highway business are federally mandated. The Supremacy Clause establishes that the Federal Constitution, treaties, federal laws, and federal regulations are the supreme of the land (Cheeseman, 2010). The Commerce Clause gives the...
Words: 931 - Pages: 4
...A State of Confusion Wendy Haugen BUS 415 Douglas Edmunds Tanya Trucker’s lawsuit versus the State of Confusion conveys a paradigm concurrent with the course book regarding Interstate Commerce. Commercial traffic within the states, considered Interstate commerce, will affect commerce between states. The Commerce Clause allows the federal government to regulate the interstate commerce. The statute enacted by the state of Confusion requires all towing trailers and trucks that drive through the state of Confusion to use a B-type truck hitch. Tanya Trucker, a resident of the state of Denial is livid, incandescent with fury, yet she controls herself as she contacts a known law firm, which specializes in this field of commercial law. In a genteel fashion, she has expressed her extreme displeasure in the situation with her attorney, pointing out the additional expense this statute imposes on her business. She intends to file suit against Confusion to overturn the statute. Tanya Truckers lawsuit will occur in the jurisdiction of the Federal District court. Her Attorney and his colleagues research their sources, discovering the statute is void as it violates the supremacy clause; No Preference shall be given by any Regulation of Commerce or Revenue to the Ports of one State over those of another nor shall Vessels bound to, or from, one State, be obliged to enter, clear, or pay duties in another. “Federal jurisdiction based on diversity of citizenship requires...
Words: 1013 - Pages: 5
