17 December 2008

Unemployment

Based on the high rate of the unemployed, states are beginning to run out of funding for the unemployed benefits. They are beginning to turn to the federal government for loans to keep up. Unfortunately, due to the loans, businesses are the ones that have to pay the price through higher taxes. This isn’t a huge issue…yet. The last time this was seen as a huge issue was during the great depression. We have had other times through out the 20th century that hit the economy fairly hard. For example, the 1981-82 recession that also affected the unemployment rate. However the country was able to bounce back from that. How are we expected to bounce back from the position we are in now, economically?

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