Saturday, August 18, 2012

How is the U.S. Economy? Not Good in 2012

U.S. public debt sign held by Uncle Sam
Uncle Sam holding U.S. debt sign

You must be wondering how the U.S. economy is doing. The real answer is: Not good.

The U.S. public debt as of July 2012 was $15.93 trillion. The largest national economy in the world is the U.S. economy, estimated at over $15 trillion in 2011, with a per capita GDP of $48,450.00

 The U.S. public debt includes:
  • Debt held by the public 
  • Debt held by government accounts or intra-governmental debt

Public Debt of United States
U.S. Public Debt as of 2010; Source: United States Government

What about jobs in the U.S.?

According to the Bureau of Labor Statistics, 44 states reported over-the-month unemployment rate increases in July 2012. The unemployment rate is really bad.

Not good.

The Bureau of Labor Statistics also reported in an economic news release that employers in the private non-farm sector initiated 1,476 mass layoff events in the second quarter of 2012 that resulted in the separation of 262,848 workers from their jobs for at least 31 days.

That is horrible news!

I know. I can attest to the poor job situation. I work in the U.S. and even live in one of the best places to get a job, and the outlook is very dismal. This recession continues to drag on.

In fact, anyone that goes to a job interview will hear the words "bad economy" because every employer talks about it candidly in interviews. Anyone that is looking for a job in the U.S. is hoping for a new president. Those who don't work and rely on the government like the current president. The government is not meant to provide, and people should not expect the government to take care of them.

The best thing any American can do to turn this poor economic recovery around is to vote for a new president in November - a president that knows what he is doing, and one that will not continue to allow the economic recession to continue.

If you are interested in reading more about the bad U.S. economy, read: 55 Interesting Facts About the US Economy in 2012

President Nixon "I am not a crook" and President Obama "I am not a dictator"

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