Difference between revisions of "Economy 101"
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| − | |HasArticleText= | + | |HasArticleText=The economy consists of the production, distribution or trade, and consumption of limited goods and services. The part of that with the most impact on your future is the “production”. The “national family” can only spend/consume as much as it makes plus what it borrows minus what it pays in interest on the national debt. The most important factor in your future well-being is the “family income” i.e. GDP. |
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| − | The economy consists of the production, distribution or trade, and consumption of limited goods and services. The part of that with the most impact on your future is the “production”. The “national family” can only spend/consume as much as it makes plus what it borrows minus what it pays in interest on the national debt. The most important factor in your future well-being is the “family income” i.e. GDP. | ||
There are a number of ways to measure economic activity of a nation. If you think of it as a family, the key factors are how much do we earn, how much do we spend and how much do we borrow. | There are a number of ways to measure economic activity of a nation. If you think of it as a family, the key factors are how much do we earn, how much do we spend and how much do we borrow. | ||
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*The Democrat leadership position is: we’ve it made much better, just give us some more time. | *The Democrat leadership position is: we’ve it made much better, just give us some more time. | ||
*The Republican leadership position is: it’s gotten some better but it’s still bad and with the increase in spending (including Obama care) and the projected national debt, it will only get worse. | *The Republican leadership position is: it’s gotten some better but it’s still bad and with the increase in spending (including Obama care) and the projected national debt, it will only get worse. | ||
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| + | |HasAuthor=Tharrisn | ||
| + | |HasArticleDate=2014/05/19 | ||
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Revision as of 06:21, 22 May 2014
2014/05/19 User:Tharrisn
