The U.S. economy slammed into a wall in August, failing to add any jobs for the first time in nearly a year and ratcheting up pressure on President Barack Obama to find a way to kick-start the lagging recovery.
The negative jobs growth, along with news of Europe’s stalled efforts to aid debt-stricken Greece, rocked financial markets. The Dow Jones Industrial Average dropped 253.31, or 2.2%, to 11240.26, despite talk that the labor-market woes may spur the Federal Reserve to step in with more monetary support. Investors piled into safe-haven investments, sending gold up 2.6%. The yield on the 10-year Treasury, which falls as prices rise, briefly fell below 2% for just the second time in more than 50 years.
The GOP, including the current band of presidential hopefuls spared no time in blaming president Obama for the poor performance of the US economy.
But should the president be blamed for the poor showing of the US economy? I think the president deserves some blame, as are members of both houses of Congress.
According to the Constitution of the United States; Congress is the legislative body of government and it has failed to legislate the appropriate laws that would ensure a stable economy.
So all the talk about the president killing the economy is not true. It does not matter what great plan the president has–it must pass through both houses of Congress and Republicans are not allowing that.
Branches of Government
The Founding Fathers, the framers of the Constitution, wanted to form a government that did not allow one person to have too much authority or control. While under the rule of the British king they learned that this could be a bad system. Yet government under the Articles of Confederation taught them that there was a need for a strong centralized government.
With this in mind the framers wrote the Constitution to provide for a separation of powers, or three separate branches of government. Each has its own responsibilities and at the same time they work together to make the country run smoothly and to assure that the rights of citizens are not ignored or disallowed. This is done through checks and balances. A branch may use its powers to check the powers of the other two in order to maintain a balance of power among the three branches of government.
The three branches of the U.S. Government are the legislative, executive, and judicial. A complete diagram of the branches of the U.S. Government may be found in the U.S. Government Manual (PDF).
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