The economy, politics, and authority of the United States of America are important topics that are covered in this blog.
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The economy is the large scale organization of a society’s production, trade, and consumption of goods and services. It includes the behavior of individuals, businesses, governments, and nations. The study of the economy is divided into two main branches: microeconomics and macroeconomics.
The GDP of USA
The GDP of USA is the total value of all final goods and services produced in a country in a certain period of time. It doesn’t include intermediate products, only the final products that are bought by the end consumers. It’s usually calculated on an annual basis and it’s considered to be one of the most important indicators of a country’s economic health.
The United States has the largest economy in the world, with a GDP of $17.4 trillion in 2017. That’s about 24% of the global economy! The U.S. economy is fueled by abundant natural resources, a highly productive workforce, and a wide variety of industries. The country is also home to many leading multinational corporations, such as Apple, Walmart, and Coca-Cola.
Despite its large size, the U.S. economy is not immune to economic problems. The country was hit hard by the global financial crisis of 2008-2009, and its economic growth has been slow in recent years. Inequality has also become a major issue, as income and wealth disparities have grown between rich and poor Americans.
The Inflation Rate of USA
The inflation rate is the percentage change in price from one year to the next, or over any 12-month period. The core inflation rate excludes volatile items such as food and energy prices.
The inflation rate in the United States is measured by the Consumer Price Index (CPI). The CPI for all urban consumers (CPI-U) increased 0.4% in May after rising 0.2% in April, according to the U.S. Bureau of Labor Statistics. The core CPI, which excludes food and energy prices, rose 0.1% in May after climbing 0.3% in April.
On a 12-month basis, overall inflation was 2.0% in May, while core inflation was 2.2%. These rates are relatively low by historical standards and are well below the Fed’s target inflation rate of 2%-3%.
The Unemployment Rate of USA
The current unemployment rate for USA is 4.1% as of January 2018. The unemployment rate is calculated by the U.S. Bureau of Labor Statistics (BLS) as the percentage of unemployed workers in the labor force. The labor force includes all civilians 16 years and older who are not in the military or institutionalized and who are available to work.
The USA is a constitutional federal republic, and the federal government is divided into three branches: the executive, legislative, and judicial. The President is the head of state and the Commander-in-Chief of the armed forces, and the President is also the head of government. The legislature, called Congress, is made up of two houses: the Senate and the House of Representatives. The judicial branch is made up of the Supreme Court and lower courts.
The Government of USA
The Constitution of the United States is the supreme law of the United States of America. The Constitution, originally comprising seven articles, delineates the national frame of government. Its first three articles embody the doctrine of the separation of powers, whereby the federal government is divided into three branches: the legislative, consisting of the bicameral Congress; the executive, consisting of the President; and the judicial, consisting of the Supreme Court and other federal courts. Article IV, Article V and Article VI embody concepts of federalism, describing the rights and responsibilities of state governments, as well as limitations on state governments. Article VII establishes the procedure subsequently used by all thirteen states to ratify it.
The two Houses of Congress are:
The Senate– in which each state is represented by two Senators;
The House of Representatives– in which each state is represented by a number of Representatives proportional to its population (but with every state guaranteed at least one Representative).
Each House has particular exclusive powers: for example, only the House may initiate revenue bills (proposed laws relating to taxes or spending), impeachment proceedings against federal officials, or elect the President in case no candidate wins a majority in the Electoral College. However, both Houses must pass any bill for it to become law. If one House does not approve a bill it has originated, that House may propose changes to it (known as a “Motion to Recommit” in the House or a “Motion to Reconsider” in Senate), but ultimately both Houses may pass a bill with or without these proposed changes. If one House rejects a bill outright it usually marks the end of that legislation until after elections when one party holds majorities in both Houses. Any bill approved by both Houses must be presented to and signed bythe President before it can become law (although if Congress is in session when they receive it they may override a Presidential veto with a two-thirds majority vote in each House).
The Political Parties of USA
In the United States, there are two major political parties: the Democratic Party and the Republican Party. There are also several minor parties, such as the Libertarian Party, the Green Party, and the Constitution Party.
The Democratic Party is considered to be more left-wing, while the Republican Party is considered to be more right-wing. However, there is much overlap between the two parties, and they both cover a wide range of issues.
The Democratic Party was founded in 1828, and it has always been the party of choice for progressives and liberals. The party’s platform includes issues such as social justice, civil rights, environmental protection, and economic equality. The Democratic Party has produced some of America’s most influential leaders, including Presidents Franklin D. Roosevelt and John F. Kennedy.
The Republican Party was founded in 1854, and it has always been the party of choice for conservatives. The party’s platform includes issues such as free markets, limited government, and individual liberty. The Republican Party has produced some of America’s most influential leaders, including Presidents Abraham Lincoln and Ronald Reagan.
The President of USA
The President of the United States is the head of state and head of government of the United States, as well as Commander-in-Chief of the Armed Forces. The president is indirectly elected to a four-year term by the people through the Electoral College.
The office of President was established in 1789 by Article II of the Constitution. The first person to hold the office was George Washington, who was inaugurated in 1789. Since then, there have been 44 people who have served as President. The current President is Donald Trump, who took office on January 20, 2017.
The USA is the most powerful country in the world. It has the largest economy and the most powerful military. Its political and economic system is the most stable in the world. It is the only country in the world with a AAA rating from all three major credit rating agencies.
The Constitution of USA
The Constitution of the United States of America is the supreme law of the United States. Empowered with the sovereign authority of the people by the framers and the consent of the legislatures of
the thirteen states, it is the source of all government powers, and also provides important limitations on the government that protect the fundamental rights of all citizens. The seven articles of
the Constitution divides governmental power between the legislature, executive, and judiciary branches, and provides procedures for its amendment.
The Constitution was signed on September 17, 1787, by delegates to the Constitutional Convention in Philadelphia. It was later ratified by special conventions in each state. Ultimately, it went into effect
on March 4, 1789, when George Washington was inaugurated as first President under its provisions.
The Bill of Rights of USA
The Bill of Rights is the first 10 amendments to the United States Constitution. These amendments guarantee certain basic rights and freedoms for Americans, including the right to free speech, the right to bear arms, and the right to a fair trial. The Bill of Rights was written by James Madison and was ratified by the states in 1791.
The Supreme Court of USA
The Supreme Court of the United States is the highest ranking judicial body in the United States. Established by Article III of the Constitution, the detailed structure of the Court was laid out by the 1st Congress through the Judiciary Act of 1789. The number of justices has fluctuated throughout the years, currently sitting at nine.
The Court is tasked with hearing appeals from lower courts and deciding on a wide range of constitutional issues. Although it has occasionally been criticized for its overly politicized nature, the Court has remained an important part of American democracy and governance.
The current justices are:
-John Roberts (Chief Justice)
-Ruth Bader Ginsburg
– Elena Kagan