The United States is a considerably younger country compared to the Great Britain, China, or India. It was a colony of the Great Britain. Officially, the United States of America became independent on July 4, 1776 (Jenkins, 49). The Independence Day in America is one of the greatly celebrated federal holidays. The US federal government formed in 1789 based its establishment on federalism and democracy (Barbara et al., 421). Dr. William Davis, a Political Science professor in the College of Southern Nevada, described federalism as a system in which there is a national government, but also state and local units of the government. He also discussed democracy stating that the United States regarded constitutional democracy. Dr. William described constitutional democracy in the aspect of a government in which those who exercise governmental powers do so because of winning free, fair, and relatively frequent elections and are subject to recognized and enforced limits on the power of all government officials. When issues of financial constrains arise, the citizens normally blame the government. Although it is not the only player in this aspect, the government does contribute considerably to economic upheavals. It is therefore appropriate for the government to adopt the relevant measure to mitigate the impacts of economic turmoil.
This year, the United States of America anticipates a presidential election. The main contestant is the Democratic Party’s President Obama, who will compete against a Republican Party candidate. Considering the president plays a crucial role in steering the economy, dissidents of the Obama administration wish that a Republican candidate wins in the election and fixes the current economic problems in America. Currently, President Obama is immersed in dealing with the pressing financial crisis and dwelling less on the issue of election. The United States experienced a similar crisis during the period of the Great Depression. Thus, evaluating the various strategies employed during this era can help identify the appropriate measures to deal with the current recession. For example, during the Great Depression, the citizens inputted more effort in their undertakings and cared for one another (Jenkins, 215). In this regard, everyone contributed to the country’s emergence out of the situation. Therefore, together, people can fix the current recession.
Regulating the economy of a country may be a tricky issue despite good governance. This is because global economies are correlated and thus influence one another. An economic upheaval in one country, especially the economic giants, is likely to trigger economic crisis in others. In this regard, countries, worldwide, meet to spearhead economic cohesion and control. When countries work together, they have synergy effect.