With a GDP of over $16.760 trillion, the US is the largest economy in the world. The economic system is well-developed and gathers its strength from its services and manufacturing industries. The recession in 2009 adversely affected the economy of the country and unemployment rates soared to an alarming point. But the economy bounced back with a growth of around 4% in the third quarter of 2014 as consumers and businesses have stepped up spending. However, the increasing budget deficit puts the economic prosperity of the country at grave risk as the deficit currently amounts to a staggering $506 million.