Describing the current state of U.S. economics, we will discuss several factors to include unemployment, future expectations, consumer income, and interest rates.
We will identify the existing effect of the economic factors on aggregate demand and supply. In addition, we will identify current recommended fiscal policies by government leadership.
With this information, we will then evaluate the effectiveness of the current fiscal policy recommendations from both the Keynesian and Classical model perspectives.
To better understand what the state of the unemployment situation is in today's current economy, it was determined that a good place to start was with the Bureau of Labor Statistics (BLS) or the U.S. Department of Labor.
The first quarter tally of 2013 is not available until February 2, 2013. Therefore, we based our calculations on the data from December 2012.