America’s Economy
Over the past decade, specifically the past eight years of President George W. Bush’s presidency, America’s Economy has fallen endlessly. Just when one thinks “It cannot possibly get any worse than this” or “It is going to get better soon” they are let down yet again. As hopes of better times continuously emerge into peoples thoughts they are continuously shot down with the same effort they arose. As of now, America’s economy is defined using words such as debt, unemployment, inflation/ recession, and war. All of which are affecting the American people and bringing enormous despair into their everyday lives.
America has accumulated an insurmountable debt, so much that in fact the U.S. department of treasury has been ordered to print more money since the huge dive that the stock market just faced. A Presidential decision is in the works in order to “bail out” or help to get Wall street back to its normal activities, which is going to cost $700 billion, if approved. This debt totals over $9.7 trillion, which equals to about $31,700 for every United States resident. With this amount owed in debt it is easy to see why the economy is failing. The average debt accumulation is more than some people’s salaries. With this vicious cycle it will be hard for anyone to get out, especially with high interest rates. Another Factor to America’s debt is the war. In order to supply the troops with the necessities President Bush has approved war budgets of over $1billion. America’s debt is growing and is becoming the source of other economic problems.
Major Businesses are losing money in this continuously plunging economy. Employers have not been making enough money and so, therefore, they can not afford to pay their employees. This creates a huge and growing unemployed nation. This huge jump in the unemployment rate and also with this excess of debt, the American people are going to suffer. With the debt trickling over $9.7 trillion, there is no way...