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What are the pros and cons of living in the US? Show more Show less
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The United States of America has for many years been a nation admired around the world for its commitment to freedom and democracy, scientific achievements, and popular culture. But what is it like to live in the United States today? Does US history reflect its current quality of life for its citizens?

The United States is a favorable country to live in Show more Show less

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The United States is an economic powerhouse

Considered to have the strongest economy in the world since WWII, the United States continues to provide economic stability and job opportunities. Economic prosperity is a major benefit of living in the US.

The Argument

The United States is an economic powerhouse as the leading national economy since World War II.[1] US citizens take advantage of a number of economic benefits including a stable unit of currency, the highest median household income, and a plethora of job opportunities. Economic prosperity is a defining advantage of living in the United States.[2] As the world’s primary reserve currency, the US dollar is a sign of economic stability.[2] The dollar has consistently held its unit of account (purchasing power) with healthy and controlled rates of inflation. Consequently, foreign banks and corporations invest in the United States, boosting the American economy in the process. [3] The United States has the highest median household income in the world.[2] The US census cites the median household income for 2018 to be $61,937. With trends pointing upwards, US citizens are expected to continue becoming even richer.[4] With a plethora of job opportunities, American citizens benefit from job security. In addition, the United States is ranked number 1 for the best job market in the world and has the largest gross domestic product. With such statistics, people are destined to find a secure and stable job in the United States.[5] With the most stable unit of currency, the highest median household income, and plenty of job opportunities, the United States is an economic powerhouse. These economic benefits are just one of the many advantages of living in the United States.

Counter arguments

While the United States has one of the strongest economies in the world, it has one of the lowest economic growth rates. With a growth rate of 2.35% and a ranking of 115th in the world, the US has a subpar statistic for economic growth. [1] In addition, the COVID-19 pandemic has catalyzed economic turmoil for the United States. The country struggled with a record 14.4% unemployment rate with over 20 million jobless Americans.[6] The United States also recorded the sharpest decline in GDP in the second quarter of 2020 due to the pandemic. [7]

Proponents

Premises

Rejecting the premises

References

  1. https://observer.com/2020/01/us-economy-vs-other-countries-how-america-stacks-up/
  2. https://www.johnmason.com/usa/top-10-reasons-move-usa-2/
  3. https://www.xpressmoney.com/blog/industry/the-most-stable-international-currencies-in-terms-of-exchange-rate/
  4. https://www.census.gov/library/stories/2019/09/us-median-household-income-up-in-2018-from-2017.html
  5. https://www.usnews.com/news/best-countries/united-states
  6. https://www.pewresearch.org/fact-tank/2020/06/11/unemployment-rose-higher-in-three-months-of-covid-19-than-it-did-in-two-years-of-the-great-recession/
  7. https://www.brookings.edu/research/ten-facts-about-covid-19-and-the-u-s-economy/#:~:text=From%20the%20most%20recent%20peak,%5BBEA%5D%202020a%3B%20authors'
This page was last edited on Monday, 2 Nov 2020 at 03:12 UTC

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