The Current Economic Situation in the United States: Essay

Sample Essay

Words 733

For a student contemplating entering the labor force relatively soon, the economic picture is certainly discouraging. And it is not only the present statistics about the health of the economy and the job market that are cause for concern; the proposed federal budget includes a vast debt that I and others of my generation will have to pay for in a number of different ways.

The economic news is not – or at least not yet – entirely bleak. For example, in January the unemployment rate fell to 5.7 percent in January with the number of unemployed Americans standing at 8.3 million  (http://www.bls.gov/news.release/empsit.nr0.htm). However, skyrocketing federal deficits and the economic ills associated with them are likely to produce far higher levels of unemployment over the next several years.

Setting the nation’s priorities is the purpose of the proposed federal budget. We might not initially see the job of the budget in this way, instead believing that its primary goal is to determine how to spend money. But just as in the case of a family, a government budget is also a way of making the goals and values of that organization concrete. This is why it is important for each citizen to examine what is included in the budget each year because doing so provides an excellent window on the values of the government and thus can help each citizen determine whether he or she wishes to vote for or against the government in the next election.

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