Economics 6th Hour

News story about my meeting on September 27th.

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.

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.

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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.

In this writing, it talks about how Apple is in court with Samsung again because Samsung is stealing Apple's ideas and designs. This is the second time they have went to court and the first time, Apple won and revieved $1.05 billion toward damages. This is related because whatever happens between the two companies will affect the demand for each of the companies products and how prices will change.

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.

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.

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.

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.

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 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.

The Pay-as-you-earn repayment option on student loans should help with the student loan crisis allowing students to cap their monthly payments to 10% of their income.

this article says that the stocks are on there way of four straight year of gains. there are also improvements since the 2008 downturn. also the number of jobs created each month has to get higher to create a healthy labor market. oil futures are down 10% from near $99 a barrel, and the stocks are looking pretty good.

this article says that the stocks did not keep up with the market this year. it says the stocks are down 1.3% this year and its not looking better for 2013. this is surprising because oil prices traded have been higher.