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Where is the US U.S. economy heading?

Essay prepared by: GAVEGA

Tuesday, November 13, 2012

It has been almost four years since the inauguration of Mr. Barrack Obama, on January20, 2009. During the first two years of his mandate, he had total control of Congress andthe executive, during which he had full authority to implement economic policies proposedduring his campaign. The economic situation in late October 2012, a few days before thelast election, is critical. Most economic and social indices show the decay of the richesteconomy in the world in terms of natural and human resources.

From January 2009 until October 31, 2012, the rate of unemployment and under-employment was 15 percent, the unemployment rate for Hispanics; in total, the labor forcehad grown 9.2 million people, of which 7.8 million or 85 percent net had decided to retireor give up looking for work, causing a lower unemployment rate.

The work force of Hispanic origin was 37 million, of which 12.5 million were not seeking jobs; the public debt has reached the astronomical figure of 16.3 trillion dollars in the lastfour years this Administration has increased the public debt by $ 5.6 trillion, representingan increase of 52 percent and for the first time in the history of the United States of

America, the public debt was greater than the gross domestic product; the debt percapita increased from $ 35 thousand in 2008 to $ 52 thousand in 2012.

Between January 2009 and December 2011, latest data available, entered the country bylegal means 3.2 million people, of which 0.6 million cifraban the age of 50 years or more,during the same period 2.1 million people acquired U.S. citizenship, of which 0.8 millioncame from the Americas, the country had about 11.5 million illegal immigrants living andworking in the country, many of these illegal workers without papers and exposed to beoperated by the same illegal status. According to the National Census, as of September

30, 2012, there were 314.1 million Americans, it is estimated that there are a number ofpersons not registered in the census for fear of being deported by the government. Thecurrent government, while supporting a process to legalize illegal immigrants has deportedover those four years to just over one million people, this information is not disseminatedin many media people close to the ruling party because not suit them.

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The food aid program has experienced a substantial change going from 28.2 million aidrecipients in December 2008 to 44.7 million on October 31, 2012, the increase in spendingby this concept grew from $ 37.6 billion in December 2008 to $ 75.7 billion in October2012, the budget for social action programs for fiscal year 2013 is estimated at a little

over $1 trillion. Despite these available funds for food assistance, it is reported that thecountry has a little more than 8 million seniors who are suffering from hunger and anestimated 16.2 million children have no food on their table and live in a state of povertychronic. It is necessary for these children is that their parents have jobs and generate anincome that allows them to get out of that level of subsistence. Unfortunately, in the lastfour years, the current government's economic policies have failed to generate thenecessary development to achieve the goals set in the 2008 election campaign.

The American's life expectancy is well below many countries in the world, the U.S. life

expectancy went 45th place in 2008 to 50th place in 2011. In the past year, the U.S.citizen had a life expectancy of 78.3 years, well below the 89.7 years in Monaco, whichranks first.

The problem is not just food or health but also education. Globally, the United States isbelow some European and Asian countries in the rate of high school graduation, in Germanyfor example, 97 percent of students graduate from high school, followed by Japan with 93percent, then there is England with 91 per cent and further back in seventh place is theUnited States with 77 percent. The number of students per classroom in the United

States, 22 per classroom is above the levels reached by Sweden, with an average of 9students per class. In the world rankings in teaching math, American students at No. 31are well below the Chinese who take first place, in the field of science, American studentsranked 23rd are far from the Chinese who take first place. In a recent survey conductedby Gallup, shows that confidence in the public sector education system has dropped from58 percent in 1973 to 29 percent in 2012.

In the last four years, the economy has slowed substantially in real terms at 2005 prices.Gross domestic product rose from $ 13.2 trillion in fiscal 2009 to $ 13.3 trillion in fiscal2012. In current terms, GDP grew from $ 14.4 trillion in FY 2009 to $ 15.1 trillion in FY2012. The average fiscal deficit in the last four years has been a little over a trilliondollars a year, this has caused the deterioration of public debt, as presented above.

After analyzing the above figures anyone could think that leadership in the currentgovernment is not doing enough to change the rate of decay of the world's most powerfuleconomy.

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Note: Statistical information comes from various government sources (U.S. Department ofCommerce - Bureau of Economic Analysis, U.S. Government Spending.com, Direct.govTreasury, Bureau of Labor Statistics.gov) and private (Trading Economics.com, MeasuringWorth. com, Infoplease.com, MPI - Migration Information.org, Feeding America.org,Conservapedia.com, Trading Economics.com) and can be tested in these different sites onthe internet.