MACROECONOMIC REPORT

Macroeconomic Report

USA Macroeconomic Report

Executive Summary

The economy of the United States of America has gone through very difficult phases. The country is facing economic crisis which is creating problems for the people of the country. One major for this economic downturn is the increasing rate of unemployment in the country. This has caused the country a lot in terms of money as well as man power. People who have been unable to find jobs in the country are looking for better opportunities in different countries that can provide them with money as well as other facilities. The debt crisis in the country is another major issue.

This paper aims to discuss the major economic issues of the United States of America and highlights the issues that the economy is currently facing. The country;s macroenvironmental condition is discussed by analyzing the GDP of the country, the fiscal indicators, the international indicators and in the end will dicuss the crtitical issues. This paper will present an overview of the macroeconomic conditions of the country and will also discuss the future prospects of USA.

Introduction

The United States, long shaped the United States of America, in English United States or United States of America, is a republic, constitutional government in presidential systems of North America. The United States is a union of 50 states, 48 of which are adjacent to each other and locate between the Atlantic Ocean and the Pacific Ocean, east to west, and bordered on the north by Canada and south by the Mexico. The last two states are the Alaska, located in western Canada, and Hawaii, an island in the middle of the Pacific Ocean. In addition, the country includes fourteen island territories scattered around the Caribbean Sea and the Pacific. The federal capital, Washington, located in the District of Columbia, federal district out of 50 states.

Background

The United States has in 2011 more than 311 million inhabitants and is the third most populous country in the world behind China and India. The area of the United States is 9,629,048 square kilometers, making it the fourth largest country in the world behind Russia, Canada and China. Immigration is very abundant, and the population is among the most diverse in the world of ethnic and cultural. The national economy is the largest in the world with GDP the highest in the world (Turnovsky, 1997, 30).

While, the Declaration of Independence of the United States proclaimed on 4 July 1776, by the thirteen colonies established in British North America. The United States gained independence from the United Kingdom in1783 (Treaty of Paris) following the American War of Independence, and adopted the Constitution of the United States in 1787 at the Philadelphia Convention. The Bill of Rights (Bill of Rights) is itself confirmed by the first Congress of the United States in 1791. Land development took place mainly in the NINETEENTH century with the conquest of the West and Indian wars, but also through bilateral agreements made with other European nations and North ...