Tuesday, December 02, 2008
Well it's finally official, the U.S. is in a recession...Starting last year in December, which was the peak of recent economic activity, the U.S. economy has been declining. With now more than 1.2 million jobs that have been cut it's easy to see the effects. Even with all the money from bailouts and what not it looks like we'll be in trouble for awhile. People aren't spending as much as needed, because of fear of an unstable future. And that's what we need the most, for people to spend like normal and help stimulate the economy. Even with "Black Friday" and "cyber Monday" people are spending as much as hoped. Businesses are still struggling and more and more people are losing jobs. With this recent recession, it can now be known that during Bush's presidency that the U.S. has gone through 2 recessions now. The first one dating back to 2001 from March to November. I sure hope people start going like they used to, because I work in the restaurant industry and we're been hurting significantly for the past few months.