With the vast oil reserves of Iraq at its disposal and having acquired supremacy over the world, US faces the worst recession this year with the prices of commodities rising every day. The food assistance program recorded the highest increase with 28 million people using food stamps to buy food. The food assistance program launched in 1960 finds the highest number of takers this year as the country fights hard to feed its people.
It is the ordinary American that is the victim of housing foreclosures that forces them to lose their homes, employment is scare as many continue to lose jobs due to the downturn of the local industries. Michigan is facing a mini-recession with its car industry collapsing and people losing jobs, 40 states have seen an increase in the want for a food stamp and the numbers have risen by 10% in more than 6 states which include Arizona, Maryland and Florida, the home of most of the Hollywood celebrities. Food stamps are actually electronic cards that can be swiped to buy food. Prices of food items have risen so people cannot buy like they used to even with the use of food stamps.
A country which spends millions on its military forces to liberate countries from tyrant rulers, a country having nuclear powers, a country that pledges to eradicate terrorism from the world, a country having military troops in all parts of the world; such a country facing its greatest recession clearly indicates that while the government is busy looking after the world, they fail to look after their own countrymen who suffer due to employment while the best brains around the world find jobs in US.
It is time for the upcoming government to recognize the crisis in their own country before they implement their foreign policies across the globe.
via: independent
Comments
America is having a good deal of problems due to the recession, but we aren’t the only ones that are running for cover, be it with payday loans or other options for covering a sudden gap in our budgets. During a recession, like the one we’re in, a lot more people are going to need them, and it is a good thing that they are there if you need one. However, some people are troubled by terminology like “recession” or “depression.” What is the difference between the two? Well, in plain and simple terms, a recession is where the American economy, which is measured by quarters, has three or more quarters of a year, or every three months, where the total of things made here, or productive output, is less than it was in the previous three months, or quarter. So if 9 months out of a year has less production than the previous 9 months, then the economy has receded, and is therefore in a recession. A Depression is a long-term recession that results in higher levels of unemployment, and low levels of production, income, and also trade and investment. In short, one is bad, but the other is even worse. During a recession you have to take care and be responsible with your finances, but don’t be afraid of a payday loan if you need one.
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