The state of the U.S economy

EQ: What is the current state of the U.S economy and how does it impact my financial future?

Essential Terms, concepts and ideas Economic Indicators Unemployment Rate Discouraged workers Consumer Confidence Index (CCI) Budget deficit National debt Starve the Beast Social Security Medicare Medicaid

Economic Indicators Economic indicators allow analysis of economic performance and predictions of future performance

The Stock Market/Investment Inflation Consumer Confidence Main Indicators Employment rate The Stock Market/Investment Inflation Consumer Confidence

American Unemployment rate is at 4.4% Washington 4.5% in July Oregon 3.8% in July North Dakota 2.3 Alaska 7.2%

How is unemployment rate determined? the number of unemployed people divided by the total number of people in the civilian labor force  To be counted as unemployed, you must be over 16, and have been available to work full-time during the past four weeks. Most important, you must have been actively looked for work during that same period. If you quit looking after 4 weeks, so you are now considered a discourage worker and are no longer counted as unemployed

What is wrong or what problems do you see with the way we determine the unemployment rate?

Stock market/ Investment The Dow's highest closing record is 23,557.23 set on November 7, 2017. Currently hovers over 20,000 daily. The Dow has set 74 new record closing highs since the 2016 presidential election. 

Consumer confidence index (CCI) at 125 in August The consumer confidence index (CCI) is based on households' plans for major purchases and their economic situation, both currently and their expectations for the immediate future. A 17 year high.. Black Friday American shoppers spent a record $5 billion in 24 hours. That marks a 16.9% increase in dollars spent online compared with Black Friday 2016

The real scoop

US Debt Clock.org http://www.usdebtclock.org/index.html

How we got here https://www.youtube.com/watch?v=KZLftNCwNXs

10 Trillion and Counting https://www.youtube.com/watch?v=EEATEPyh1RI

Presidential Decision If you were President, would you raise taxes in order to payoff the national debt even if it would be unpopular with your voting base, and at the expense of your political future?

Group Activity Given the information provided in 10 trillion and Counting, as a group re-draw the pie chart to represent 4 areas that you would propose cuts to. Provide a rationale for your cuts in order to shift more funds to help balance the budget and avoid a deficit for the fiscal year. You will be presenting you rationales.

Private Warriors https://www.youtube.com/watch?v=VW2e742Jt6c Identify 3 services private contractors are providing for the American Military. Are the services being provide for soldiers an unnecessary cost to the taxpayers or are worth the cost to keep soldiers happy and unlisted? 26:30-32 Minute 33-43

Proposed Tax Plan Activity Read and watch the videos titled TAX PLAN. For 5 of the proposed changes, write down the pros and cons of that specific change. It maybe your own personal opinion on how each one will impact the economy. Answer the questions on the half sheet handed out regarding the amendment to the constitution and reduction on entitlements. Remember these are being graded as tests.

Popular Tax deductions Student Loan- Eligibility: The student must be enrolled at least half-time in a program leading to a degree, certificate, Also, the student had not completed the first four years of postsecondary education – so grad students cannot take this credit. Credit Amount: up to $2,500 of the cost of tuition, fees and course materials paid during the taxable year per eligible student. Student Loan Interest- Interest paid on student loans maybe deducted

Tax Credits for Americans Mortgage interest deduction:mortgage-interest deduction now lets people who buy homes deduct part of the cost of their mortgage on their taxes. According to the Joint Committee on Taxation, it saved Americans $77 billion last year—$77 billion that would otherwise have gone to the government Child and Dependent Care Credit: If you paid a daycare center, babysitter, summer camp, or other care provider to carefor a qualifying child under age 13 or a disabled dependent of any age, you may qualify for a tax credit of up to 35 percent of qualifying expenses of $3,000 for one child or dependent, or up to $6,000 for two or more children . 

As you watch the video Broke, what were the main reasons stated or unstated for the financial difficulties professional athletes? Broke represents a macrocosm of what happens to many Americans.