Economics 6th Hour

News story about my meeting on September 27th.

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President Barack Obama and John Boehner met for negotiations Thursday at the White House. Boehner has accused President Obama of not being serious about cutting government spending.

U.S. manufacturing in November decreased to the lowest level since July 2009, one month after the Great Recession ended. People are worried about the fiscal cliff and automatic tax increases in the New Year and the demand for factory goods and manufacturing jobs has decreased.

This article talks about how taxes are being put on more expensive items. This is in order to fix the fiscal cliff situation. This puts more taxes on more expensive homes.

This article describes how the fiscal cliff topic has been affecting the stock market.

This article talks about how if Congress fails to cut a deal on the fiscal cliff this year, the scramble to do so in January could over raise the debt ceiling

In the article it states that the fiscal cliff will bring workers holiday payroll tax will go up from 4.2% to 6.2%. This scares small business owners because it will reduce the amount of money that people are getting in their paycheck so they won't go out and buy more things.

the fiscal cliff is a series of tax increases and automatic spending cuts set to take place in 2013. This would lead to a fiscal contraction of $500 billion in 2013. This is already taking an impact on the economy. if we go over the cliff the economy could be worse then the great recession in 2007-2009. with this is projected unemployment and GDP rates: 2013: unemployment: 10.2% / GDP: .2% 2014: unemployment: 11.4% / GDP: 1%

This article is about how upper middle class families struggle to afford college for their kids. It relates to economics because these families move into more expensive areas to send their children to better schools to gain a better education but face the complications of losing jobs, living from pay check to pay check, sacrificing the small things such as eating out, etc. So it becomes an issue of is these families can actually afford school after the high school level.

Congress is encouraging making a $1 coin besides a bill because it is cheaper to manufacture and would last longer. For example, coins have to be replaced every 30 years, compared to dollars every 4-5 years. Not a lot of people will like to change, but it is just a matter of getting used to it.

I chose this article because it is all about economics. It deals with taxes. It talks about how democrats want to raise taxes and republicans do not want to. Obama wants to raise taxes because he needs to earn one trillion dollars. Obama wants a proposal that is supposed to raise $523 billion dollars over the next ten years. The rest of the article deals with taxes and how Obama wants to raise them in order to cover the debt and earn more money.

This article has to do with the U.S. economy not having the same fate as some other countries according to recent data. Countries like Japan and others in Europe all have a struggling economy. The article is stating that part of the reason for U.S. companies not doing so well could be because of a slow global economy.