Restoring The U.s. Economy Essay

On February 17, 2009, the American Recovery and Reinvestment Act was instated. This fiscal plan was created to stabilize the economy while it was spiraling down out of control. At the time, the United States was experiencing many economic problems and was very close to a collapse. The American Recovery and Reinvestment Act was created by Barack Obama to save 900,000 to 2.3 million jobs. The plan asked for 800 billion dollars but had to be approved by congress first. This plan tried to end the breakdown of the economy and boost it back up to its normal level of performance if not better.

America has a lengthy history on how it became the powerful country it is today, and although its history can be interrupted in many ways (depending who you ask) one thing that is for certain is that wealth has yet to be distributed equally amongst minorities. According to the article “Income inequality matter; Extreme gap in wealth makes society unstable.” Philip Meyer claims that the wealth gap between whites and minorities has existed since Ronald Reagans’ term of presidency (A9). Although Ronald Reagans’ term ended many years ago the mistakes that caused this imbalance of wealth (and its aftermath) while he was in office remains almost if not exactly the same as when the problem initially began (Meyer A9). The wealth gap continues to target minorities and is affecting our communities at an alarming rate, however, many attempts have been made to reduce its existence but the factors of income inequality, unemployment rates and discrimination before and after our recent 2007 recession prevents our country from eliminating such a toxic problem.

Since the beginning of human history there has always been a power structure; who is to be on top and who is to be in the bottom. So, it comes to no surprise that America has a growing gap between the wealthy and everyone else. The United States is known as a melting pot and a country full of opportunities for all but it is also the place where upper class makes millions in an hour and the lower class only makes minimum wage. United States thrives on promoting everyone is created and treated equally but that happens not to be the case. Polls after polls shows a huge percentage of Americans biggest concern is the income inequality, the rich continue to get richer and the poor continue to get poorer, that it’s not being tribute equally among race and gender. Wealth and income inequality has grown since 1920s like never before and the question lays what is the cause and how can it be fixed.

The United States is a vast, diverse region that offers a wide range of economic opportunity. Since the United States is so big, there are a lot of differences between the economy in various regions, genders, and ethnic groups. Some of these variations in the economy are good creating a diverse economy with many different kinds of resources and goods. Some differences, however, are gaps between the poor, the rich, and different ethnicities that create economic gaps in the population. These gaps and diversities creates the United States fast-pace forever changing economy.

Economic inequality reigns as a massive divide in the United States of America. Many active policies cause people to occupy an economic level which is meant to benefit those above them. With that said, there have been many efforts taken in hopes of reducing the current levels of economic inequality, but with these efforts, money and wealth will have to be taken from the rich to give to the poorer. This is where the problem lies with wealth inequality – many have to sacrifice for those whom they presume to be unworthy of benefiting from their fortunes. Education, wealth, race, and power all play a role as to why action will not be taken to reduce the current levels of inequality in America.

Since the 1970s, the United States economic distribution of wealth has shifted. The rich continue to get richer while the poor continue to get poorer. It is a growing trend that has left a huge gap in income. As of today, the top one percent of the U.S total population owns ninety-nine percent of the country’s wealth; meanwhile, the bottom 99 percent of the U.S population owns merely one percent of the country’s wealth. This staggering statistic is the reality of the one-sided wealth distribution; it is a grueling cycle that has plagued the nation for past decades. Something as crucial and critical as this is the result of the blunder that the U.S government has committed with continuing to enforce its laissez faire commitment towards business,

There are many opinions on why the gap between the rich and the poor is so wide in the US. And they might not be wrong because in some way they all connect. In this essay I am going to write about why inequality from the government, technological changes, and education are such a big impact on the difference between the richest and poorest people in the US. Americans don’t really think about this a big problem because most Americans are uniformed and most can’t do anything because they have no power to. By power I mean money, everything is done to gain more money. All laws passed are to benefit that 1%

Recently, studies have shown that income inequality has many connections that have caused the gap in the United States. According to the research I found, income inequality is connected to corruption, trade, wages of workers, and education. The world income inequality had declined since the twentieth century according to the studies found (Clark). Corruption falls increasing on low income individuals more than higher income individuals. Additionally, the trade theory suggests that the free trade might have level up the income inequality higher within countries by the different patterns of wages and demand for workers who are skilled and unskilled (Silva and Leichenko). Moreover, the education of wealthier people has it easier because the

The U.S. economy has many elements of markets that had seen either an increase or decrease from activity or production. Beside these other markets (such as gasoline, or airplane seats) there has been a steady growth of the Real – Estate market. Due to these slight increases in the housing market, there can now be other positive effect throughout the U.S. Firstly, with the steady increase within the housing market, there’s a better chance of an economic growth. Secondly, the unemployment rate will steadily continue to decline from housing sales. Thirdly, there will be more work opportunities offered.

For every four to six years U.S economy faces an economic slowdown. Thus the current market is now in forth year. The root of U.S. crisis and its economy can be traced backed to 2007, when U.S housing bubble burst which yields a financial meltdown in 2008. In average, the American trying to make ends meet in 2014, a market and a recession will probably look and feel the same. In early 2008, when the financial crisis began, then the U.S. national debt stood at $9.2 trillion. Figures figure out by the White House, the national debt will reach $20.0 trillion by the end of decade about 140% of our current GDP. Successful debt reduction requires fiscal constraint and policies that

Income inequality in the United States has developed since the nineteenth century and the industrial age. Historically the Rockefellers, Carnegies, and Mellons of the industrial age were the individuals that understood that wealth was capable of transforming anyone’s life if society provided the window of opportunity. For those men the industrial age brought significant social change that forever changed the landscape of the American work force, and began a surge of possibilities in the nation that continues today. Through the past the wealthy were capable of discovering how the developments in the labor market, and the changing make-up of households could develop into millions of dollars if one knew what the working

The US should keep US economy on top when it comes to trade. This will provide people in our country with better products and improve the overall standard of living. We would help poorer and more underdeveloped countries than us that need assistance. Also, putting the US economy on top will result in keeping peace with countries. Some say we will focus less on values and more on resources and money and make other countries economy’s weaker, but we will still hold on to values unless they get in the way and we will actually help other economies by trading with them even though the US is still on top. We should make sure the US economy is on top so we can help the people in our country have better lives and help and keep peace with countries other than us.

For answering the statement of wealth inequality, I offer a metaphor. Imagine a marathon race and the runner with the blue shirt is ahead but losing ground to the red shirt. If one were watching this marathon race and wanted to know how the current positions came to be, one would begin at the start of the race. The same is just as applicable for a different race, one where there isn’t a finish line but has racers; this race is one about the difference of the accumulation of wealth in the 21st century. In this wealth race no mile is more or less relevant to the overall success of the race. As we’ll see, the 18th, 19th, and 20th centuries all play a part in how wealth is accumulated. Political Economists might call these economic and social terrains of the track and desire of winning the race, as Social Structuctures of Accumulations (SSA). As the United States progresses from its infancy to the technological revolution each step of the way blacks not only are at a disadvantage compared to their white counterparts, they are also exploited “ethically” through each SSA to excel the wealth of whites or those in power.

With our economy in a downslide and increasing numbers of foreclosures worsening our economic problems, it is obvious that there needs to be some intervention in order to prevent more foreclosures. Home ownership has always been a key portion of the American economy and an integral part of the American dream. We cannot allow the current crisis to let more people lose their homes and become disenchanted about home buying in the future. Not only will the defaults on mortgages further destabilize the American economy now, but they will also cause problems in the years to come as less people decide to venture into home ownership again.

Economic revitalization and the goal for community financial efficiency is a challenge set before all communities both large and small, and while the size and scale of the local community brings with it unique challenges to overcome, it can be argued the smaller the city the larger the challenge. Awareness of the factors standing against the goal of revitalization not commonly found in larger areas can help support economic growth and heightened entrepreneurial innovation in these smaller communities.