Difference between revisions of "Economy 101"
From Civicwiki
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|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. | |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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Values shown in the two tables below are for the beginning of that year | Values shown in the two tables below are for the beginning of that year | ||
| − | { | + | {{{!}} class="wikitable" |
| − | + | {{!}}- | |
| − | !President!! colspan="2" | + | !President!! colspan="2" {{!}} Reagan!! colspan="2" {{!}} Bush I!! colspan="2" {{!}} Clinton!! colspan="2" {{!}} Bush II!! colspan="2" {{!}} Obama |
| − | + | {{!}}- | |
| − | + | {{!}} {{!}}{{!}} 1980 {{!}}{{!}} 1984 {{!}}{{!}} 1988 {{!}}{{!}} 1992 {{!}}{{!}} 1996 {{!}}{{!}} 2000 {{!}}{{!}} 2004 {{!}}{{!}} 2008 {{!}}{{!}} 2012 {{!}}{{!}} 2014 | |
| − | + | {{!}}- | |
| − | + | {{!}}'''GDP per capita ppp''' {{!}}{{!}} $25k {{!}}{{!}} $28k {{!}}{{!}} $33k {{!}}{{!}} $32k {{!}}{{!}} $37k {{!}}{{!}} $40k {{!}}{{!}} $43k {{!}}{{!}} $45k {{!}}{{!}} $45k {{!}}{{!}} $45k | |
| − | + | {{!}}- | |
| − | + | {{!}}'''Government debt – trillions''' {{!}}{{!}} $0.9 {{!}}{{!}} $1.6 {{!}}{{!}} $2.6 {{!}}{{!}} $4.1 {{!}}{{!}} $5.2 {{!}}{{!}} $5.7 {{!}}{{!}} $7.4 {{!}}{{!}} $10 {{!}}{{!}} $16.7 {{!}}{{!}} $17.5 | |
| − | + | {{!}}- | |
| − | + | {{!}}'''Gov’t spending per capita''' {{!}}{{!}} $4.2k {{!}}{{!}} $5.8k {{!}}{{!}} $7.3k {{!}}{{!}} $9.2k {{!}}{{!}} $10.2k {{!}}{{!}} $11.2k {{!}}{{!}} $14.2k {{!}}{{!}} $17.6k {{!}}{{!}} $19.6k {{!}}{{!}} $19.8k | |
| − | + | {{!}}} | |
Sources of data for the table above:<br /> | Sources of data for the table above:<br /> | ||
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:Interest rate is not a major factor in most years, but at the 1980 level – 15.7% – it’s a major factor. | :Interest rate is not a major factor in most years, but at the 1980 level – 15.7% – it’s a major factor. | ||
| − | { | + | {{{!}} class="wikitable" |
| − | + | {{!}}- | |
| − | !President!! colspan="2" | + | !President!! colspan="2" {{!}} Reagan!! colspan="2" {{!}} Bush I!! colspan="2" {{!}} Clinton!! colspan="2" {{!}} Bush II!! colspan="2" {{!}} Obama |
| − | + | {{!}}- | |
| − | + | {{!}} {{!}}{{!}} 1980 {{!}}{{!}} 1984 {{!}}{{!}} 1988 {{!}}{{!}} 1992 {{!}}{{!}} 1996 {{!}}{{!}} 2000 {{!}}{{!}} 2004 {{!}}{{!}} 2008 {{!}}{{!}} 2012 {{!}}{{!}} 2014 | |
| − | + | {{!}}- | |
| − | + | {{!}}'''Unemployment U3''' {{!}}{{!}} 7.5% {{!}}{{!}} 8.0% {{!}}{{!}} 5.7% {{!}}{{!}} 7.0% {{!}}{{!}} 5.6% {{!}}{{!}} 4.0% {{!}}{{!}} 5.6% {{!}}{{!}} 5.0% {{!}}{{!}} 8.3% {{!}}{{!}} 6.3% | |
| − | + | {{!}}- | |
| − | + | {{!}}'''Unemployment U6''' {{!}}{{!}} 12% {{!}}{{!}} 15% {{!}}{{!}} 10% {{!}}{{!}} 13% {{!}}{{!}} 10% {{!}}{{!}} 7% {{!}}{{!}} 10% {{!}}{{!}} 8.5% {{!}}{{!}} 15% {{!}}{{!}} 13% | |
| − | + | {{!}}- | |
| − | + | {{!}}'''Average salary''' (2011 $) {{!}}{{!}} 20659 {{!}}{{!}} 21739 {{!}}{{!}} 24475 {{!}}{{!}} 23806 {{!}}{{!}} 26428 {{!}}{{!}} 29795 {{!}}{{!}} 29000 {{!}}{{!}} 28755 {{!}}{{!}} 28281 {{!}}{{!}} - | |
| − | + | {{!}}- | |
| − | + | {{!}}'''Rate of Inflation''' {{!}}{{!}} 13.9% {{!}}{{!}} 4.2% {{!}}{{!}} 4.0% {{!}}{{!}} 2.5% {{!}}{{!}} 2.7% {{!}}{{!}} 2.7% {{!}}{{!}} 1.9% {{!}}{{!}} 4.3% {{!}}{{!}} 2.9% {{!}}{{!}} 1.6% | |
| − | + | {{!}}- | |
| − | + | {{!}}'''Interest rate''' (prime) {{!}}{{!}} 15.7% {{!}}{{!}} 11.5% {{!}}{{!}} 8.5% {{!}}{{!}} 6.5% {{!}}{{!}} 8.25% {{!}}{{!}} 8.75% {{!}}{{!}} 4.25% {{!}}{{!}} 6.5% {{!}}{{!}} 3.25% {{!}}{{!}} 3.25% | |
| − | + | {{!}}} | |
Sources of data for the table above:<br /> | Sources of data for the table above:<br /> | ||
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His campaign motto in his 1984 bid for re-election was: “it’s morning in America” and he carried 49 of the 50 states | His campaign motto in his 1984 bid for re-election was: “it’s morning in America” and he carried 49 of the 50 states | ||
| − | Democrat President Clinton’s economic approach entailed a perceived modernizing of the federal government, making it more enterprise-friendly while dispensing greater authority to state and local governments. The ultimate goal involved rendering the American government smaller, less wasteful, and more agile in light of a newly globalized era. For the first two years of his presidency, Democrats controlled both chambers of Congress. For the last six years. Republicans controlled both chambers of Congress. In his 1996 State of the Union address, he declared, “[[Big_Government | + | Democrat President Clinton’s economic approach entailed a perceived modernizing of the federal government, making it more enterprise-friendly while dispensing greater authority to state and local governments. The ultimate goal involved rendering the American government smaller, less wasteful, and more agile in light of a newly globalized era. For the first two years of his presidency, Democrats controlled both chambers of Congress. For the last six years. Republicans controlled both chambers of Congress. In his 1996 State of the Union address, he declared, “[[Big_Government{{!}}The era of big government is over.]]” And it was – but not for long. |
[http://en.wikipedia.org/wiki/Economic_policy_of_Bill_Clinton Economic Policy of Bill Clinton] | [http://en.wikipedia.org/wiki/Economic_policy_of_Bill_Clinton Economic Policy of Bill Clinton] | ||
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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 | |HasAuthor=Tharrisn | ||
|HasArticleDate=2014/05/19 | |HasArticleDate=2014/05/19 | ||
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Revision as of 08:19, 22 May 2014
2014/05/19 User:Tharrisn
