Economic Growth Essay

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Countries pursue economic growth in an effort to increase the standard of living for all of its citizens. In his State of Union Address, President Obama laid out his agenda to achieve economic growth and prevent further stagnation of the economy. His address overtly expressed his idea that government should continue to have a substantial involvement in the economy through legislation that would attempt to expand the middle class. Goals set out for his second term would be insuring the tradition of social mobility and a “paying ones fair share” approach to deficit reduction. President Obama assured the American people investment in education, independence in energy production, and technology will promote efficiency, supply, and demand factors of growth, necessary to achieve a healthier and more stable American economy.

President Obama pledged investment in domestic American energy in an effort to produce higher output of this abundant resource. The President’s investments would make the country “poised to control our own energy future.” With the more efficient use of natural gas and oil, rather then the dependence on foreign energy, America can create new jobs and be a leader in renewable energy. Current expansion of wind and solar energy has already made “everyone’s energy bill lower because of it.” Increased production of these natural resources as well as their quality will create an atmosphere for economic growth.

The American worker can be increasingly more productive through education. There is a growing demand for jobs that require higher education; however, our education system has fallen behind in contributing human capital necessary for these jobs. President Obama pledged to improve the quality of American education by expanding programs for preschoolers, with the hope it would later increase the quality of our labor force. In an effort to make Americans competitive with the rest of the world for current jobs in high demand, we must “equip our...
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