v The U.S economy is the largest and most important in the world. The U.S economy represents about 20% of the total global output. We have the sixth highest GDP per capita only to be beaten by smaller countries. The U.S dollar is the most used currency in the world. Two thirds of the currency reserves in the world are in U.S dollars. The U.S. economy is dominated by services-oriented companies in areas such as technology, financial services, healthcare and retail. Our economy has been slowly getting back on track since the stock market crash of 2008. It started with a major recession that started in 2007 with factors like widespread mortgage lending, low interest rates, and lax government regulation. Then on Sept 29, 2008, the
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Military spending includes: activities of the Department of Defense, war spending, nuclear weapons spending, international military assistance, and other Pentagon-related spending. The U.S treasury divides federal spending into three groups: mandatory spending, discretionary spending and interest on debt. Mandatory and discretionary spending account for more than 90 percent of federal spending. Discretionary spending is the portion of the budget that is decided by Congress. Most of the discretionary spending goes to military programs. Mandatory spending is spending that Congress legislates on certain programs that are required by existing …show more content…
The U.S economy represents about 20% of the total global output. We have the sixth highest GDP per capita only to be beaten by smaller countries. The U.S dollar is the most used currency in the world. Two thirds of the currency reserves in the world are in U.S dollars. The U.S. economy is dominated by services-oriented companies in areas such as technology, financial services, healthcare and retail. Our economy has been slowly getting back on track since the stock market crash of 2008. It started with a major recession that started in 2007 with factors like widespread mortgage lending, low interest rates, and lax government regulation. Then on Sept 29, 2008, the stock market crashed. The Labor Department reported that the economy lost 240,000 jobs in the following month. The government introduced a stimulus package for 831 billion dollars be spent across the next 10 years to boost the economy. The economy has been slowly recovering but still have some effects of the
Military spending includes: activities of the Department of Defense, war spending, nuclear weapons spending, international military assistance, and other Pentagon-related spending. The U.S treasury divides federal spending into three groups: mandatory spending, discretionary spending and interest on debt. Mandatory and discretionary spending account for more than 90 percent of federal spending. Discretionary spending is the portion of the budget that is decided by Congress. Most of the discretionary spending goes to military programs. Mandatory spending is spending that Congress legislates on certain programs that are required by existing …show more content…
The U.S economy represents about 20% of the total global output. We have the sixth highest GDP per capita only to be beaten by smaller countries. The U.S dollar is the most used currency in the world. Two thirds of the currency reserves in the world are in U.S dollars. The U.S. economy is dominated by services-oriented companies in areas such as technology, financial services, healthcare and retail. Our economy has been slowly getting back on track since the stock market crash of 2008. It started with a major recession that started in 2007 with factors like widespread mortgage lending, low interest rates, and lax government regulation. Then on Sept 29, 2008, the stock market crashed. The Labor Department reported that the economy lost 240,000 jobs in the following month. The government introduced a stimulus package for 831 billion dollars be spent across the next 10 years to boost the economy. The economy has been slowly recovering but still have some effects of the