Boom”. This article brings up several issues that we have discussed in Economics 103 this

semester. The article discusses the presidential election and both candidate’s positions on some of

the major issues dealing with the economy. Mainly, the article centers around the federal budget

“This year’s presidential election is being fought against the backdrop of an unprecedented

economic boom”. One component of this statement is the unemployment rate at about 4%, which

is close to historic lows. In class, we learned that the different types of unemployment are

frictional (when people quit work to seek more attractive employment), structural (resulting from

technology or geography), and cyclical (associated with the downturn and recession phases of the

business cycle). Also there are underemployed workers who are working at jobs that do not

utilize their productive talents or experience, and discouraged workers who have given up looking

for work after facing many rejections.

The labor force is used in determining the unemployment rate. Those not included in the

budget was in deficit $290 billion which is 4.6% of the Gross Domestic Product (GDP). To battle

Also a part of the quotation in paragraph two, is that inflation is still “tame”, though it is

Larger surpluses are predicted for the future. The latest forecast for the ten-year budget

real GDP persists for at least a half-year. Recessions are marked by high unemployment.

compared with the February 2000 estimate. These surpluses may never be realized however. It is

Some common words found in the essay are:
Politics Boom”, Al Gore’s, Bush Gore, Allen Greenspan, Product GDP, Reaganomics Clintonian, , Committee FOMC, President United, Allen Greenspan’s, fiscal policy, unemployment rate, tax cuts, government spending, labor force, tax revenues, budget surplus, federal budget, recessionary inflationary gaps, revenues government, presidential election, tax revenues government, revenues government spending, federal budget surplus,
Approximate Word count = 868
Approximate Pages = 3 (250 words per page double spaced)