Kham&Racy Economic Newspaper

Unemployment, National Debt, Government Role

Table of Contents

1. Today's Topics

2. Unemployment Today

3. US National Debt

4. Government Roles

5. Obituary for the economist

6. Advertisement

7. Word Search

1. Today's Topic:

HO-HO-HO! Christmas, the biggest holiday of the year, is closing in and big money is going to be spent but what effects will Christmas have on our economy this year. Today we will be covering Unemployment, National Debt, Government roles, and a death in economics.


2. Unemployment Today


"Last week got an actually good employment report -- arguably the first good report in a long time. The US economy added well over 300,000 jobs; wages, which have been stagnant for far too long, picked up a bit. Other indicators, like the rate at which workers are quitting (a sign that they expect new jobs), continue to improve. Were still nowhere near full employment, but getting there no longer seems like an impossible dream." - Paul Krugman. Krugman nudges the idea that not only is unemployment falling but available jobs are increasing.

3. US National Debt

National Debt

If you take a look at the national debt clock from the link above you will notice that the national debt and US debt in total are increasing rapidly. Not only is the national debt increasing rapidly but all types of things are collecting debt like mortgage debt, student loan debt, total personal debt, credit card debt, and many more. If the government continues to spend money like we are now we will be in mass debt in future, causing prices and taxes to increase. Don't be fooled! its not only our government causing debt to increase, its you too. When you pick up that credit card and decide to go buy those new shoes you've been drooling over for a year, your creating a rise in debt. Yep its that easy to create a rise in debt. So before you place blame on the government for the rise in national debt just remember that the money you spent on that credit card didn't come out of your pocket.

4. Government Roles

The role of the government

The government controls our economy in at least three ways. Stabilization and growth is the one of the few areas that the government controls. The federal government controls the overall pace of the activity in our economy. This is to help maintain steady growth high levels of employment, and price stability. This could the economy in many ways but it could also destroy it. Another way our government controls our economy is Direct Services. Our federal government backs research that often causes the production of new products and other programs and activities. This too can have a positive and negative effect on the economy. Direct Assistance is another way our government controls the economy. The government provides help to individuals and small businesses by offering low-interest loans and technical assistance. This helps out our small businesses but it also creates an increase in today's national debt.


Death in the economy

The death of Gary Stanley Becker

Today we still mourn over our American economist Gary Becker. Becker was known for his unusually wide applications of economics at an early age. In 1992 he received the Nobel Prize in economics for “Having extended the domain of economic theory to aspects of human behavior which had previously been dealt with—if at all—by other social science disciplines such as sociology, demography and criminology.” Among other things Becker also dabbled in the art of economic discrimination. In 1955 Becker wrote his doctoral dissertation at the University of Chicago on the economics of discrimination. Becker successfully challenged the Marxist view that "Discrimination helps the person who discriminates" Becker then makes the point that if an employer refuses to hire a productive worker because of skin color, that employer then loses out on a valuable opportunity. Gary Stanley Becker did incredible things that positively affected people and the economy.


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