Unemployment continues to be a major problem in the United States. The national
unemployment rate remains above the 9 percent mark and the debate continues
regarding government intervention. Many believe the government needs to take
action to stimulate the slumping U.S. economy and ultimately lower the
unemployment rate across the nation. One way the Feds might do this is to lower
interest rates. Not all think this is a smart move for our nation however due to
the risk of promoting inflation. Regardless of cautions relating the potential
negative side effects, the one thing that most do agree on is that something
must be done. Zero jobs were added in August according to the governments data
and the economy grew at an annual rate .7 percent through the first half of the
year. This rate was weaker than expected and much weaker than most were hoping
to observe during this time. Now, President Obama is trying to lower the
national deficit and some think that programs like unemployment, social security
and Medicare should be reviewed for potential cuts. Americans are struggling
right now though and this is, and always will be, controversial. The median
national income data recently revealed that the average American made less in
take home pay in 2010. The U.S. market has struggled lately and so turning these
trends around will be a challenge. One good note for the day specifically
pertains to the stock market. After an abysmal week last week, the three primary
composites ended green today. The Dow Jones Industrial Average approached close
higher by 2.29 percent at 11,018. Today was a step in the right direction for
the U.S. Stephen Johnson
No comments:
Post a Comment