Macroeconomics

USA economy is one of the largest economies in the world. The gross domestic product is estimated to be fifteen trillion dollars. It amounts to a quarter of the world’s gross domestic product. It has a powerful level of output hence one of the wealthiest nations in the world. Per capita income is about forty eight thousand, four hundred dollars. Currently, USA is the largest trading nation globally. The major trading partners are Mexico, Canada and China. The economy is mixed and it tries to maintain stability and growth. The economy is mostly made of services and manufactures widely (Maler, 2012).

An interesting feature of the economy is how the private sector has freedom. It holds many economic decisions, which determine what the economy will produce. This has been made possible by less government involvement in business. Business regulations are minimal and it has largely expanded the private sectors. There are about thirty million small businesses and about thirty percent of millionaires in the world come from this nation. One major contributing factor is advanced technology, which has been brought by inventions and science (Maler, 2012).

Despite the performance of USA economy, there are concerns about unemployment rate. The republicans and Democrats are concerned about the creation of jobs. It is gradually becoming slower. The Republicans are said to sabotage the economy, as a way of overcoming President Obama in the coming elections. US unemployment rate is about eight percent of the whole population. Compared to some countries, this is a minimal rate. However, the citizens feel the government needs to reduce rate as much as possible. They are not making enough efforts making job creation slow (Maler, 2012).

President Obama agrees and emphasizes that the current situation of the economy is not performing well. This is because small businesses are lacking finances and other areas of the economy need attention. The budget needs more finances to avoid retrenching teachers and police officers. Homeowners and constructors are usually left without finances after financial crisis. The president is concerned about the Republicans judgment and says they do not have ideas of helping the economy recover. The republican candidate said the private sector is performing well and the president is wrong about his statement (Maler, 2012).

The corporate is doing well and companies are trying to add more jobs. These two areas are not enough to conclude that private sector is doing well. The president said there are other areas of the economy, which require to be looked into. The president has a duty to get ideas of improving the economy. Republican candidate seems to take advantage of the situation and show the people President Obama is incapable of presidency. Maintaining a stable economy is a great challenge, especially if there is a global crisis. This is why the president told the Republicans to assist in giving ideas instead of making criticisms (Maler, 2012).

The USA economy issues are characterized by politics. The Republicans seem determined to defeat President Obama in his re-election. This is the most interesting part of this article. Politics manipulate even the economy to win elections. The economy is the most sensitive thing in the well-being of a country. This is why the Republicans are using it to embarrass the president. In the past financial crisis, the republicans have always been supportive about the monetary policy. Generally, the dollar is still one of the stable currencies in the exchange market. The government is planning to implement some strategies to assist in improving the status quo of the economy (Maler, 2012).

Works cited

Maler, Sandra. US economy needs help the Republicans lack ideas. Reuters. 8 June, 2012. Web. 13 June, 2012.