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Is the recession finnaly over?

Millions of Americans are standing in awe as reports that the recession is over are plastered in news headlines. Let us start by noting that this was the worst standing for global economy since The Gr...

Millions of Americans are standing in awe as reports that the recession is over are plastered in news headlines. Let us start by noting that this was the worst standing for global economy since The Great Depression and the longest recession (lasting 18 months) since World War II. While Federal Reserve policymakers are deciding whether or not it is necessary to take steps to help move the economy, Americans are still wondering “What about us?”

Unemployment rates have continued to drop over the last year and consumer spending has continued to decrease, yet experts insist the recession is over. Homeowners are fighting to keep their houses while banks are struggling to promote foreclosures for sale; all in all, the recession may be over, but the economy is still at a standstill. There is still hope the Federal Open Markets Committee will continue to fund struggling businesses, so that they can keep doors open and employees on staff instead of pulling out at the first small signs of economic upturn.

Regardless of whether or not the recession is actually over, the pain is still there. President Obama has stated in recent interviews that his efforts to boost the economy will not stop. He will continue to make good on his political campaign promises as we turn into his third year as president. There is a glimmer of hope in his statements and the fact that the stock market is on the rise again. However, hopes and dreams will not supply the millions of people who lost their jobs with new ones nor will it put food on their tables and a roof over their head. America must wait, while lawmakers and the government decide which next steps will help promote the economy and restore it to its natural glory.


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