2017 waste, with food literally rotting as it sits

2017 has been a year of change for the United States. With a new president and new fiscal policies being implemented, the current transitionary period has affected the economy. The US market economy affects all aspects of life in the country, which in turn impacts the rest of the world. We have learned that economics are the study and science of scarcity, and reading and interpreting different Economic Reports demonstrates just that.  President Trump’s Republican government has been attempting deregulations and promising tax cuts as the economy is continuing on its trend of getting better. The possible passage of the hotly debated tax bill currently in the works would give the stock market a bump. If congress passes the proposed tax cuts, we will see the economy improve for a while, maybe even a few years, but it will increase the national debt. I have an optimistic outlook on the economy, but it is possible that we will have another small recession within the next four years or so. Market trends always cycle into minor recessions, especially with the sense of instability given off by President Trump’s administration. If President Trump gets his way and deports all undocumented immigrants, the national economy will take a huge hit. Food production has already gone down in agricultural states, where the lack of works has led to food waste, with food literally rotting as it sits unpicked. Farms rely on the cheap labor they get “under the table”, and with mass deportations, work that the country has been relying on is simply not getting done.   2009 and the years that followed under former President Obama’s administration was just a preview of what was and is to come economically for the United States. Most of the good things in the economy right now are residual effects of Obama. There seems to be an effort now in which to make the rich richer, which is a toxic mix of hubris and greed fueling the current American capitalist system. There has been a sharp increase in the economy in the last five years which is great, yet troubling when considering what it took to get to this point. Every rise has it’s fall. The current administration is implementing economic legislation the favors corporations over people, and the Consumer Price Index (CPI) shows that there has been a substantial inflation in prices for the average person, with the all items index rising 2.0 percent in the last 12 months. If this inflation continues and prices continue to rise, markets will be negatively affected as demand goes down with less spending and more saving by consumers. The shelter and medical care indexes have increased, along with used cars and trucks, tobacco, education, motor vehicle insurance, and personal care. On the other side, the indexes for new vehicles, recreation, and apparel all declined. Spending and saving also goes hand in hand with employment. The unemployment rate is currently at 4.1 percent, with a steady increase of employment. Employment in food service and beverage places increased, reflecting the impacts of natural disasters such as Hurricanes Irma and Harvey. This has not lead to a heavily increased wage growth though, with average hourly earnings only increasing by only 2.5 percent over the past year. The Real Gross Domestic Product (GDP) has increased at a yearly rate of 3.3 percent in the past third quarter of 2017 according to a second estimate by the Bureau of Economic Analysis, while the real GDP increased 3.1 percent in the second quarter. There is a projected positive trend The impacts of policies often take’s time to manifest. Currently, the market and consumer confidence have continued to ride the progress of the past several years. It is still to be seen if newly enacted policies will be able to sustain the proposed progress or if a market correction will take place.