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I read America is getting poorer? How many of the Americans agree to it? If yes, then who is responsible for this?...
US Economic Recession
A few days back, I read in a newspaper that America is getting poorer. the percentage of poor people is increasing in the United States. More and more people are now taking to soup. If it is a reality, then who is responsible for this?
Are George Bush's policies the main reason behind this slump that the United States of America is currently facing. or the war on terror in Afghnistan and Iraq are the culprits? But if the US regime is spending too much on military expenses, even then who is to blame?
What do the common Americans think of it? What is their perception on the state of economy of their dear land?
America has led the world in everything, be it economy, politics, democracy, military, technology, advancement, enrichment, growth, space and even in war. There is no area that is deprived of the US presence. WHY IS THE US facing such a scenario?
Well, long time back, the economic recession that hit the United States has affected the entire world. The economic recession has made all nations, except China, poorer. The dwindling US economy and the overburdened expenditure on military, especially in Iraq and Afghanistan, have cost the nation dear. To add insult ti injury was the housing crisis -- the real estate crisis -- which hurt the economy and its people badly. When the US is affected, can other nations lack behind? No, the economy of every other nation showed signs of downfall and slid to its lowest ebb in many cases.
More so, the repercussions are now that the new Obama-led government is tightening its screws and cutting on the expenditure in a different manner. No matter the war in Afghanistan and Iraq continue, in fact, it has been expanded to Pakistan, the expenditure on military has also increased, but the real sufferers are countries to which US firms and corporate houses outsource. Will the outsourcing industry be the biggest loser in this debacle?