Thomas Jefferson Economy Compared To Today's Economy

972 words - 4 pages

The economy today is more advanced compared to the economy in Thomas Jefferson’s life. Today the world uses oils for transportation, technology for business transactions, and the use of the stock market. Thomas Jefferson and Barack Obama were similar in the fact that they increased jobs for the people that were jobless during their time in their Presidency. Thomas Jefferson and Barack Obama were different because Jefferson chose to focus on expanding the United States as a whole, whereas Obama focused on the individual people.
Thomas Jefferson did multiple actions to improve the economy, he bought the Louisiana territory which expanded the United States. He launched the Lewis and Clark ...view middle of the document...

He then sent a note to Thomas Jefferson demanding a gift of $225,000 and an additional $25,000 annually. This was bad because the war increased taxes and much more. Like today, there was much more to improve upon. There was the industrial growth that was good but it was also bad at the same time. It was good because it helped everyday life. It was bad because they bought more slaves. There were many more taxes to pay. There were multiple approaches that Jefferson could have done to improve the economy. Thomas Jefferson could set a limit on how much the people had on pay on taxes.
The economy is hard to describe because one day the gas prices can be low and then the next day high. One word that would describe the economy today is thriving. There are things great about the economy today. For example, there is easy access to credit and capital markets. “American consumers and businesses have relative ease when accessing credit markets whether in opening a credit card or obtaining a revolving credit facility. Robust credit agencies and ratings firms provide financial institutions with the ability to judge those seeking credit accurately. Activity by ratings firms that resulted in the 2008 financial crisis put some of that into question. But overall bank lending has returned to healthier levels; measurements from the Fed's H.8 report puts the figure of loans and leases held by the nation's commercial banks at $6.9 trillion, up $130 billion from year ago levels.” (Eric) Sadly, there is also the bad. The unemployment is twice what people are saying, union wages are harder to come by. There are worse things that could be said about about the economy. The unemployment rate is supposed to be at a rate of 7.6%....

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