The Introduction

1. The Introduction Today's unemployment rate has risen to an ultimate high we have the highest rate out of eight countries such as Britain, Russia, Germany, Japan, Greece, Iceland, Spain and recently announced China. The first few years of the recession was full of struggles with markets toggling up and down trying to find some way to bounce back. What initially caused this great recession was because of inflation. Which is basically the increase of tax on goods which follows the notion of supply and demand. The future projections of this great problem in our society relies in the hands of the man in the white house President Barack Obama.

2. The Beginning of the Beginning It all started December 2007 when we were first labeled under the word of recession. Through the fiscal year of 2008 the number of Americans living in poverty rose by 1.7million to 47.5 million which is a huge part of our country's population 15.7 percent to be exact, roughly rounded that would be approximately one fifth of the population that means one out of five people are living in poverty. The recession that we are faced with is mild compared to the great depression and any other major recessions that have occurred during the history of the United States of America. The reason we have not yet fallen into a great recession is because we have a safety net which is basically created by stimulus which basically caused an even bigger crisis. .The numbers for the following year was not great either but, the numbers remained the same statistics show that a family of four receives twenty-one thousand, seven hundred and fifty six thousand dollars in a year which include noncash federal benefits such as food stamps and the average was once set at twenty four thousand, five hundred and twenty two dollars which is roughly three to four thousand dollars short of what's expected. 4.5million people were kept out of poverty due to jobless benefits

3. What caused this recession? The true reason of this recession is because of the great decline in GDP growth.GDP is gross domestic product is the total dollar amount of all goods and serviced products. Which has slowed down also due to manufacturing orders, falling house prices and sales and a great drop in business investments. Which in the long run creates the numbers of so many people being unemployed in America today and also creates a downward spiral in manufacturing and increasing the numbers of people being layed off. From what I've learned we will endure a period called irrational exhuberance which is basically stock brokers overlook the bad that may be occuring in the stock market and they shoot for the stars and wind up back up on earth the problem with this is that it does not last because at this rate brokers become overwhelmed with greed and some may begin to panic which leads to them selling stock at any cost.This great problem in the stock market can spread through the economy.

4. How can we solve this great problem? I stated the fate of this country relies on the man in the white house President Barack Obama. The initial plan would be to continue relief efforts and recovery efforts, most importantly programs that create jobs that is the only way we will see light at the end of this long shallow tunnel. If not tens of millions of people will be stuck in poverty and have no hope what so ever to preserver through this harsh time on the citizens of the United States of America. Although President Obama has agreed to extend jobless benefits in 2011 but the checks will be short twenty five dollars a week this reduction can push approximately one hundred seventy five thousand people into poverty. Even though profits have recovered by more than twelve percent and counting since the year of 2007 but, still don't get your hopes up because getting out this recession is going to take some years. Another way you can overcome this recession is by going to school and getting your education not just a high school diploma a collegiate degree. Statistics show that the jobless rate for college graduates is only 4.8 percent and some of the highly skilled jobs still seem to go un attended.

5. To conclude I highly recommend that teens such as myself and the ones before be a strong believer in education because I think that would be the only way to make some real money in today's society I also suggest that we encourage the value of a dollar I know it's just paper I think we need to start saving it would be one of the smarter things to partake in.