2007 G8 Summit Magazine - (Page 72) of the Executive branch. George Bush has since 2000 been the 43rd President of the United States. The legislature is the Congress, consisting of two chambers, the House of Representatives and the Senate. Elections for the House of Representatives are held every two years. The number of representatives from a State is related to its population. Senators serve for six-year terms that are staggered so elections are held for approximately one-third of the seats every second year. Each State has two senators, regardless of its size. All treaties made with other countries must be ratified by the Senate, even when signed by the President. Only Congress has authority to decide the budget and initiate legislation. The USA has a two-party system, opposing Democrats and Republicans. The Supreme Court oversees compliance with the Constitution. Economy The United States is the world’s greatest economic power, being responsible for 1/5 of global GDP. Its most important trading partners are Canada, Mexico, Japan, Great Britain, China and Germany. | -72-
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