US Economy 2023 4-15-24

The US has the largest economy. The US economy improved from 2017 to 2020 due to higher energy production.  The US economy declined from 2021 to 2024 due to open borders, lawless government, the Climate Change Hoax and government over-spending.  The US has a chance to return the US economy to prosperity in November 2024 by electing Republicans to control the House, Senate and Whitehouse. 

Nominal GDP 26.949T, Per Capita GDP $80,412, Population 339,996,563, Debt to GDP 129%,

Inflation 30%, Unemployment 3.9%, Labor force 62.5, Trade deficit $1.1T. National Debt $35T,

Average Household Income $67,521, US Federal Government Spending $6.820 trillion. Foreign Aid is $1.1 trillion and Federal Grants to States are $1.1 trillion.

The US economy has been weakened by Federal overspending on the Climate Change Hoax and Biden’s limiting the supply of oil and natural gas.  We need to lower Debt to GDP, Inflation, unemployment and the National Debt and lower federal spending back to $4 trillion per year. We need to finish the wall and close the borders. We need to increase the labor force, productivity and household income.

Federal revenue in 2023 was $4.44T and spending was $6.13T.  The lower supply of oil and natural gas raised the cost of energy world-wide.  It emboldened Russia to invade Ukraine and Iran to have its Terrorists attack Israel. 

US Inflation rose from 1.5% to 30% since 2021. Unemployment rose from 3.5% to 3.9%. Average Household Income is down by $4000/yr. Illegal immigration is up by 10 million. The US Trade deficit rose from 0.9T to 1.1T.

The US needs to elect Trump in November 2024 to increase oil and natural gas production by 7 million/bbd to regain energy independence. This will send gasoline prices down to $2 per gallon and bring nitrogen fertilizer and transportation costs down for all countries. Russia and Iran will see their oil revenue decrease and will not be able to fund their aggression in Ukraine and Israel.

Norb Leahy, Dunwoody GA Tea Party Leader