The US government has strong policies to regulate the nation’s economy. The fiscal policy of the federal government is aimed at regulating taxes and spending in the nation. The spending plan known as budget is issued by the president of the country to the Congress. The makers of law then analysis this budget in accordance with the total level of spending and taxes. This is then divided into various sections. This is then used to evaluate what proportion of money is used for various purposes. At the end the bill is signed by the president to bring it into effect.
US economy is considered to be the largest economy of the world. This economy is considered to be a mixed economy and the microeconomic decisions are taken by the private firms in United States. Yet these decisions are controlled by the government of the country. The output per person is high in US as compared to other nations of the world.
The GDP growth rate was maintained as stable by the US economy. as a result, the unemployment rate of the country is least and the capital investment and research is increasing. National debt and external debt are the major concerns affecting the economy of US.