Why Is The Economy So Bad?
Millions of Americans have lost their homes, tens of millions of Americans can’t find a decent job and 44 million Americans are on food stamps. This is causing an increasing number of Americans to ask this question: “Why is the economy so bad?” There are some Americans that are old enough to remember the Great Depression, but the vast majority of us have never known hard times. All our lives we were told that America was the greatest economy on the planet and that we would always experience endless prosperity in this nation. That was easy to believe because even though we had a recession once in a while, things always bounced back and got even better than ever. But now something seems different. The current economic downturn began back in 2007 and yet here we are in 2011 and there seems to be no end in sight for this economic crisis. So what in the world is going on? Can anyone explain why the economy is so bad?
The following are some of the kinds of questions that the American people are asking about the economy these days….
Why does it seem like it is harder to get a job today than it used to be?
Well, it is because there are far fewer jobs available and far fewer people are getting hired. According to the U.S. Bureau of Labor Statistics, an average of about 5 million Americans were being hired every single month during 2006. Today, an average of about 3.5 million Americans are being hired every single month.
Is there much hope that the unemployment rate will start to decline significantly?