United States Economy

Poverty and homelessness are serious issues in the U.S. today, especially because of the current recession, with levels of poverty and unemployment higher than at any time since the 1930s. Blacks and Hispanics are being affected disproportionately by homelessness, as well as poverty and unemployment in American society. This is just another example of the racial caste system and institutional racism that goes far beyond that of social class, and has always been the case in recessions and indeed with every other social and economic problem in American history. Even though the country elected a black president in 2008, wealth and incomes for minority groups, which were already far lower than whites, have been in severe decline for the past few years (Baumann 2001). Compared to the trillions of dollars in federal assistance that has been extended to the large financial institutions from TARP and the Federal Reserve, programs to aid the poor and homeless have been very inadequate, and are even being cut back on the local, state and federal levels. The poor and homeless also need a program of universal health care coverage, which the U.S. has never had in its history, and like most programs to assist those at the lowest end on the social scale has often been limited or blocked by conservative interests.

Poverty and homelessness are serious issues in the U.S. today, especially because of the current recession, with levels of poverty and unemployment higher than at any time since the 1930s. Blacks and Hispanics are being affected disproportionately by homelessness, as well as poverty and unemployment in American society. This is just another example of the racial caste system and institutional racism that goes far beyond that of social class, and has always been the case in recessions and indeed with every other social and economic problem in American history. Even though the country elected a black president in 2008, wealth and incomes for minority groups, which were already far lower than whites, have been in severe decline for the past few years (Baumann 2001). Compared to the trillions of dollars in federal assistance that has been extended to the large financial institutions from TARP and the Federal Reserve, programs to aid the poor and homeless have been very inadequate, and are even being cut back on the local, state and federal levels.

The health of the current U.S. economy appears to be growing gradually. The second quarter real GDP growth was 3.7% and the unemployment rate declined to 5.3%. The U.S Federal Reserve (Fed) is expected to raise interest rates in the near future when it sees clear signs of strong economic growth and improvements in the job market.

Incumbent Barack Obama battled it out against Republican Mitt Romney. Their campaign styles, reputation, and platforms were the ultimatum of the outcome of the general election. The economic conditions both in 2012 and leading up to that year were at devastatingly low points, where unemployment rate was a boggling 10%, highest it had been since the 1982 recession. Although, Romney came from a political family it unfortunately wasn’t enough to sway the voters’ opinions causing him to lose the presidential election. Our nation was dealing with a plethora of significant issues during this time and the citizens wanted a president who could promise to resolve those conflicts. Obama, being a returning president allowed voters to put their trust in

election to what they think the future will hold because of it. What is evident is that the polls

There has been a constant fall in unemployment amongst black people. Society and their stereotypes about black people have a lot to do with it. Discrimination is also a reason. Millions of African Americans live in communities that lack access to good jobs and good schools and suffer from high crime rates. African American adults are about twice as likely to be unemployed as whites, black students delay their white peers in educational completion and achievement, and African American communities tend to have higher than average crime rates. These issues have been persistent problems. I chose to write on this issue because I am a black female that will be seeking employment and I am concerned about the wellbeing of my future.

The September 11th attacks crippled airlines, restaurants, hotels, and tourism, and caused the businesses, all the way down to the manufacturing, to take a massive hit. All of the surplus that had been there based off of the pre-9/11 economic growth was gone within ten months because of the war on terror and security spending. However, President Bush still stood strong behind his tax cut plan, claiming that it would promote and stimulate economic growth. After being made into a law and put into action, the million jobs that were before lost were slowly being recreated, and the employment rate was steadily growing again. Despite the good coming from his plan, President Bush also knew that he would be leaving a financial problem for future presidents because of Social Security and Medicare spending.

There are many articles that support this claim on what Obama did. For instance Black Enterprise posted an Article titled, “President Obama's Positive Track Record for helping African Americans”, by Carolin M Brown. The article states all the achievements Obama has created to help benefit African Americans- such as Obamacare, which gave African Americans insurance that couldn’t afford insurance so that it would help unemployed African Americans get back to work. These are just some of the small achievements Obama has given to African Americans across

The election of President Obama marks the most noteworthy political accomplishment for African Americans in the United States during the post-civil rights revolution, thus bringing about a change in the country’s social and political landscape that was steeped in racial discrimination since the founding of this great nation. Because social and political conditions are subject to constant change, President Obama’s

Upon entering office, Obama focused on handling the global financial crisis and the subsequent Great Recession,[43][44] which was generally regarded as the worst economic downturn since the Great Depression.[45] On February 17, 2009, Obama signed into law a $787 billion economic stimulus bill that included spending for health care, infrastructure, education, various tax breaks and incentives, and direct assistance to individuals. The tax provisions of the law temporarily reduced taxes for 98 percent of taxpayers, bringing tax rates to their lowest levels in 60 years.[46] The Obama administration would later argue that the stimulus saved the United States from a "double-dip" recession.[47] Obama asked for a second major stimulus package in

When President Obama was elected in 2008, he inherited the worst economic crisis since the Great Depression. During the 2008 Great Recession, the national unemployment rate peaked at 10%, since then,

National security, social issues and the economy were three key issues in 2004 and 2012. While Bush gained among conservatives for his national security policy, he performed miserably among liberals. Obama took the middle road on national security issues, perhaps so as not to look too weak. On economic issues, Bush benefitted from a strong economy in 2004, but Obama was able to overcome a weak economy in 2012, largely because of social issues and because the economy was at least trending in the right direction. Social issues seemed to be a key point of voting in 2012 in particular. The Bush re-election was not as focused on these as on national security and the economy, but Obama was able to overcome liberal misgivings about

In 2008 when America was in a period of financial crisis it seemed like nothing could change the downward trajectory path, which it was taking. It seemed like the country was divided. It seemed like the American dream and all of the great prospects that defined America were lost. It also seemed like there was nothing that could change the way things were headed. But this was also the year that the current 44th president of the United States of America was elected, the first African American president, a man who was elected to the US senate in 2004. This is the same man who use to be a civil rights lawyer, a teacher, and a community organizer, this much-respected man is president Barack Obama. Following his triumph in the presidential election

“The United States economy grew by an average of 4 percent per year between 1992 and 1999” (Pethokoukis, 2015).

Although economic prosperity is attainable for all in the United States, not everyone has a fair chance. Other factors certainly play a huge role in determining your chances in becoming economically prosperous.