Econ

A detailed Summary of Econ

The United States Department of Commerce has issued a statement proclaiming that personal income grew faster in September than in any other month since August 1999. This growth is largely due to the increase in federal farm subsidies which boosted personal income by $61 billion.

Private wage and salary disbursements also increased by over $25 billion in September, adding to the total personal income bump up. The Department of Commerce said that the net personal income increased by 1.1% in September while the disposable personal income (adjusted for taxes and inflation) increased by 0.7%.

The advance gross domestic product also indicates that consumer spending is still on the rise. It is growing at an annual rate of 4.5%. In recent years, consumer spending

Barrett, Jennifer. "Economic Growth Continues." New York Times 29 Oct. 2000.

Callen, Jane. "Statement by Robert J. Shapiro." US Department of Commerce. (Oct. 27 2000): Online. Internet. 29 Oct. 2000.Available http://osecnt13.osec.doc.gov/public.nsf/docs.

All things considered, the national is still growing. This is the longest period of economic growth in America's history and it has yet to show signs of slowing. Much of this growth is a direct effect of extensive investment spending and government spending. Fortunately, even though the current employment rate has exceeded the theoretical full employment rate, there is minimal inflation. This economic prosperity follows Keynesian equilibrium models perfectly.

Although this negative savings rate may sug

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Approximate Word count = 514
Approximate Pages = 2 (250 words per page double spaced)

Category: Politics

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