Leaders from first world countries are warning of a possible global downturn if the worrying trends continue. Our nation is headed toward a recession and there is little denying this. The recovery has not been as strong as it should have been because the middle class has never recovered. The little wealth that has been gained has been gained by the one percent. This means that because 70 percent of our economy is now consumer spending, Americans are spending less. Our nation is sinking further into debt to try to cope, but this can only last so long.
Tag Archives: economy
It’s time our political leaders opened their eyes and got a better understanding of how student debt has impacted the lives of young adults. A study released by Dr. Katrina Walsemann of the University of South Carolina revealed that the higher the student’s loans, the poorer his or her mental health is. When you combine an average of $30,000 loans per college graduate and no jobs in the U.S. you have a serious problem.
This recovery has been unlike every other recovery in history. It has been a very slow comeback in which people and businesses are still suffering from the recession. We keep hearing good news about our economy improving, but the fact is that the economy has only improved in certain areas while the others are still hurting significantly. Alabama, Illinois, Michigan, Ohio and more are still nowhere near to where they use to be before the recession. The truth is that the United State’s economy is unstable and in dire conditions.
Our once great nation is falling behind the rest of the developed countries in many areas. One of those areas is our infrastructure. In fact, globally the U.S. ranks 16th in quality of infrastructure. America went from having the world’s most modernized roadways and highways in the mid-1900s to an outdated and hazardous infrastructure today. In 2013 we were ranked 19th and last year we went up 3 spots, not because we have improved our infrastructure but because other countries’ infrastructures worsened. When will the United States actually achieve a higher ranking better because of actual improvement and not because of the failures of other countries?
Our failed trade policies have ushered in unrestricted, open access to American markets, with disastrous consequences. The results have been the destruction of our economic base. In place of tariffs, more and more countries are using border consumption taxes which put our exported goods on an uneven playing field. Businesses are either closing down or off-shoring, and U.S. jobs are being lost. If the United States were to implement a border consumption tax of our own, we could regain the jobs that have been lost to other countries who have used the border consumption taxes against us.