How Current Issues Affect Our Economy Essay
Sorry, but copying text is forbidden on this website!
It has been a common notion that current issues affect a country’s economy. Particularly, in the U. S. , issues such as election, war, and immigration are often pointed out to cause the economy to rise or fall.
Also, there is a speculation tying up the economy with the prices of stocks, in that the rise in the prices indicates an improving economy and vice versa. Although existing studies have not established a sure claim that current issues truly affect the economy (Socioeconomic Foundation Website), we can point out reasons how such issues can make the economy rise or fall.
First, let us consider how elections can improve or pull down our economy. As what we may hear during election periods, the success of our economy is somehow dependent on whoever wins. On the one hand, if the incumbent government stays in power, the economy, with all its budget appropriations, would be sustained. Therefore, there is a tendency that our economy could maintain its present status and there would be no fear of decline.
On the other hand, if a new regime takes over, a new set of budget will be proposed, and there could be an economic recession, which could eventually lead to some losses.
In the same way, war can affect the economy in two ways. It can have positive implications, as well as negative ones. On the positive side, involvement in war could make a country more powerful and prominent. In addition, it promises future alliances, which assure us of additional areas for investment. As such, the country’s power and territory widens, and this leads to developing trust of other nations on the country’s stability. This development of trust to the U. S. power could later mean more investments and alliances.
On the negative side, involvement in war could also imply a lot of drawbacks. For instance, recipient countries such as Iraq and Afghanistan receive a funding of USD 1. 3 billion for their infrastructure, community action, and other local projects. As such, involvement in war could lead to economic slur or upsurge. Aside from election and involvement in war, immigration is another issue affecting the US economy. As Croddy & Hayes (2007) note, the issue of illegal or unauthorized immigration has existed for the last thirty years.
Illegal immigrants include all people who have been overstaying in the country, and those without proper documentation. While some of them may have jobs to support themselves and their family, a lot of these people do not have a livelihood and literally rely on what the US government can provide. Specifically, the government spends for their children’s education in public schools, medical benefits, and other projects that they benefit from such as infrastructure, telecommunication, etc.
Similarly, these people contribute in depleting the country’s natural resources, and utilize energy, water, and air. Another issue that may be affecting the U. S. economy is the problem with HIV victims. As the fight against AIDS continues, the government keeps on spending a lot of money to discover the cure for the said disease. This also implies that as the cure for AIDS has not been found, the government will continue its effort to allocate some of its budget to inventions and researches.
Croddy, Marshall and Hayes, Bill.“Current Issues of Immigration, 2007. ” 2007. Retrieved 2 February 2008 <http://www. crf-usa. org/immigration/Current_Issues_of_Immigration_2007. pdf. >. “Key Aspects of Socionomic Theory. ” Socioeconomic Foundation. Retrieved 5 February 2008 <http://www. socionomics. org/about/key_aspects. htm#contents>. Lancaster, Carol. “U. S. Foreign Economic Aid in 2008: Winners and Losers in President Bush’s Proposed Budget. ” Retrieved 4 February 2008 <>.