International Trade and Finance Speech

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International Trade and Finance Speech

Good morning ladies and gentlemen. We have gathered you all here today in order to share with you the current state of the U.S. macroeconomy in terms that you can use to publish articles so the general public can easily comprehend these national finance issues. Macroeconomics attempts to understand the causes and consequences of short-run fluctuations in national income (the business cycle), and attempts to understand the determinants of long-run economic growth (increases in national income). Macroeconomic models and their forecasts are used by both governments and large corporations to assist in the development and evaluation of economic policy and business strategy. In December of 2008, the National Bureau of Economic Research, the United States department responsible for categorizing the country’s economic condition, acknowledged what most Americans have known for some time; that their country is officially in a deep and painful recession. Even in September 2010, with governmental spending totaling more than $800 billion, and trillions of dollars’ worth of credit from the Federal Reserve Bank, fears of a second recession were growing, along with worries that the country may face several more years of lean economic progress. Each year since 1969, Congress has spent more money than its income. The Treasury Department has to borrow money to meet Congress 's appropriations. We have to pay interest on that huge, growing debt; and it cuts into our budget. I will quote the President of the United States " By making investments in our people and infrastructure, we will strengthen the middle class, make America a magnet for jobs and innovation, and grow our economy, which will in turn help us to reduce deficits. But economic growth alone will not solve our Nation’s long-term fiscal challenges." For the United States to remain competitive, we must have a good trade policy in place that creates income to help fund our



References: http://www.whitehouse.gov/sites/default/files/omb/budget/fy2014/assets/reducing.pdf http://www.heldrich.rutgers.edu http://www.tradingeconomics.com/united-states/imports International Trade. Anti Essays. Retrieved August 5, 2013, from the World Wide Web: http://www.antiessays.com/free-essays/291503.html

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