Depression or Repression Usa

Depression or Recession

The United States blindly fell into an economic recession, which is said to have been caused by a steep decline in the growth of consumer spending, and the country as a whole and individualized has felt the devastating effects. Businesses lost profit due to this decline in spending, which caused the businesses as well as individuals to become deeply impacted. Several thousand people were forced out of their jobs and livelihoods due to this recession. The country, as a whole, has fallen further into debt as a result of the relief efforts made by the President and congress. Although some say that the United States is headed into recovery, it may take many, many years to see any improvement.

Businesses require consumer spending in order to profit and remain operational which caused the businesses in this country to be deeply affected by the economic downfall. The lack of demand for products caused slowing in production. This change, in several cases, resulted in no profit or operation, the businesses fell under. Business owners that did not fall, immediately, eventually did lose their business or chose to sell out to more stable companies with hope of preventing total loss. Some businesses, such as automobile manufacturers and financial institutions requested and were granted government aide, "bailouts". Other businesses did not request aide due to their fear of adding to their financial problems. The lack of demand for products caused the price of products to increase instead of decrease. Business owners needed any profit that they could make. The business cut backs led to unemployment, which had the largest impact on individuals.

The decrease in business forced many individuals out of their jobs, leaving them in disturbing financial situations. While some were granted relief through unemployment benefits, stimulus packages, tax breaks, and so forth, others did not qualify and therefore had no aide. People that had money saved were forced to use it to survive, which left them like others, broke. Many were left with no options other than filing bankruptcy, mortgage foreclosures, and repossessions. The rates of those grew quite rapidly. Most people that became unemployed also lost benefits, such as health care and retirement. The citizens of the United States were losing their jobs, homes, vehicles, health care, and other pieces of their livelihoods. It was a devastating blow that the United States has yet to feel the force of.

This country, as a whole, has been affected by, not only the recession, but by certain reactions to it. The United States has fallen billions of dollars further into debt as a result of the relief funds paid out by the government. Many say that the relief efforts have hurt more than they have helped; such that helping would be building industry that would create jobs and possibly eliminate most of the problems