• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

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

Extracts from this document...

Introduction

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.

Middle

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.

Conclusion

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Economy & Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Economy & Economics essays

  1. Chinese economy sets for soft landing in 2005.

    "Relevant macro-control policies still need to be further implemented to achieve the soft landing goal," Fan said. "We should draw important lessons from this round of economic overheating." Citing as an example, he said, when the capital goods prices begin to rocket, it's time to take swift action.

  2. Split Votes: A Nation Divided on the Marijuana/Drug Legalization Debate

    Indirectly, one could see a utility maximization argument. The Church suggests people weight the social, moral, and person benefits against the costs and make a rational decision. This, in essence, is basic neoclassical maximization. But I do not believe the Church considers economics in its decision making process.

  1. Marketing Plan: Handywares Plc.

    technique has not been used by Handwares in the UK it will be important to take part in these in our chosen foreign market. As we are initially concentrating on a specific region of a country we can promote through regional newspapers.

  2. Outsourcing. From the us point of view, how large is the outsourcing phenomenon and ...

    five years India's contract industrial engineering revenue is expected to 2"grow from around $500 million now to $10 billion"(Engardio, Pete, Business week) it suggests that American jobs are massively being exported to India. People may be surprised to see that their computer or cellular phone were designed by an unknown

  1. Victoria Junior College

    merely reduced the funds which might otherwise have been available for investment and consumption in the USA, but were a major cause of the American payment deficit from the 1950s onwards."3 In a sense, the US thus was forced to translate economic power into political influence by the demands of

  2. Discuss the extent to which the economic theories in the Market's Reader can be ...

    private costs rather than socials costs which called "Externalities" in economists' language. Externalities are costs or benefits of a transaction that are incurred or received by other members of the society but not taken into account by the parties to the transaction.

  1. Discuss the extent to which the economic theories in the Market's Reader can be ...

    3- Speed For a company to optimize the use of knowledge, it must use knowledge together with speed. With knowledge and speed working together, the company is able to achieve faster production, increased volume of production, lower costs, and faster responses to consumer needs hence being able to capitalize sooner on new opportunities.

  2. Scarcity and Unlimited Wants.

    However, in a pin factory where each worker performs only one task, ten workers using the division of labour principle, could produce a daily total of 48 000 pins. Output per person (productivity) rose from 10 to 4800 when the division of labour principle was used.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work