Politically, the US is a constitutional republic of 50 federal union state and is predicated on the concept of “majority rules” and minority rights are protected. (Scheb and Scheb II, 2002, 6) Government rule is characterized by constitutional accountability in the democratic tradition. (Raskin, 2003, 36) The US Federal government is structured so as to promote a separation of powers and include three branches. They are the Legislative branch which is comprised of the Senate and the House of Representatives. the Executive which is the President and his cabinet. and the Judicial branch which includes the Supreme Court and all lower courts. (Raskin, 2003, 36-38) The government is historically a two-party system with Republican and Democratic parties forming the government, having been elected by virtue of free and regular elections. (Raskin, 2003, 36-38)
The US’s economic system is structured around a capitalist framework. (Lederman and Maloney, 2007, 185) The Gross Domestic Product (purchasing power parity) of the US is the largest in the world, only 4% less than that of all of Europe with the US sustaining a PPP of US 13,780,000,000,000 in 2007 compared to the EU’s US$14,430,000,000,000. (CIA, 2008) According to the US State Department, the US private sector sustains just over 67% of the US GDP. (USA Economy In Brief). The US Economy, as well as the remainder of the developed and developing world, has been in recession since December 2007. (Grynbaum, M. A. 2008) Be that as it may, the financial sector has had a long history of success in the US, with finance and insurance representing the largest net income in the US. (US Census Bureau, Statistical Abstract of the United States, 2007)
In 2005 over 155 million Americans were employed with at least 80 percent of those jobs held as full-time .jobs. (US Census Bureau 2008) . .