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The economy and its role in deciding the victor of the presidential race.

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Abby, Andy, and Ashish September 16, 2004 Period 7 Economy From the days of Herbert Hoover to Bill Clinton, the economy has played a major role in deciding the victor of the presidential race. The United States economy is all of the ways goods and services are produced, distributed and consumed by individuals and businesses in the United States and abroad. The United States economy is vast and well diversified. In 1998, it incorporated more than 270 million consumers and 20 million businesses. The U.S. consumers purchase more than $5.5 trillion of goods and services annually. Businesses invest over $6.5 trillion on factories and equipment. The levels of production, consumption, and spending make the U.S. economy the largest economy in the world. Any problems the U.S. economy displays are shown throughout the world through ripple effects in their own economies. The Democratic and Republican parties differ on many issues regarding the economy, but still have the same overall goal of making the economy grow and work for its people. (Paragraph �) This year, John Kerry and John Edwards are running on behalf of the Democratic Party as a ticket of change. ...read more.


John Kerry will not raise Social Security taxes, raise the retirement age, cut benefits, or privatize Social Security. John Kerry also wants to consider making sure that high-income beneficiaries don't get more than they put in it. (Paragraph 5) John Kerry and John Edwards call on increasing the minimum wage to $7.00 an hour by the year 2007. By raising the minimum wage, the income of 4.5 million women would rise. The extra increase would provide a family with enough money to pay for about 10 months of groceries, 8 months of rent, or an entire year of healthcare and community college expenses. Kerry and Edwards believe in putting the working class before special interest groups. They have drawn from their careers in the justice system, from being a district attorney to being a trial lawyer. They plan to use their experiences to help fight for the American working class. (Paragraph 6) President George Bush and Vice-President Dick Cheney have a plan to construct a more prosperous and aggressive economy that will ensure a strong source of jobs and a better life for all Americans. Like Kerry, Bush has his own ideas about jobs and outsourcing, Social Security, manufacturing, tax credits, and trade. ...read more.


President Bush also has a goal of increasing the number of minority homeowners by at least 5.5 million families by the end of the decade. The Self-Help Homeownership Opportunities Program would help low-income families purchase a home. The biggest obstacle facing new homeowners is the down payment. President Bush supports efforts to reduce this barrier by having programs like the American Dream Downpayment and Zero Downpayment Mortgages in place for new homeowners. Bush and Cheney also believe in enacting the Single-Family Affordable Housing Tax Credit, but also recognize that decent housing is also available in apartments. Regulation should also be cut to the minimum to encourage the development of homebuilding. (Paragraph 8) While the President and Senator Kerry differ on many issues regarding economic improvement, they both share a common goal. A stronger economy must be a priority for the next administration and more importantly for the American people. The United States economy is the largest economy and is currently in a "diversifying" process through the addition of technology and the outsourcing of manufacturing jobs. Both major political parties will work tirelessly towards the greater goal of economic improvement and will more than likely sustain America's strong economy for years to come. ...read more.

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