Everyone is STILL Broke.

There are many factors that caused the United States of America to spiral downward into a deep economic recession. This month American economist Ben Bernanke made this statement to the New York Times: "Even though from a technical perspective the recession is very likely over at this point, it's still going to feel like a very weak economy for some time…" I’m no economist but to me if the economy “feels” weak, than the economy is weak. Despite what you have heard, the recession in America is not over, in fact the deficit is at an all time high, the war is in the middle east has not stopped, and the national unemployment rate is almost 10 percent.

The American deficit is projected to be over $1.6 Trillion dollars by the end of this year. Taxpayer money pays that back. I’m confused as to where all of this money has gone. The people of the United States of America are still without universal healthcare. Apparently this money went to bail out banks and continue the war. Yet the American population suffers, not knowing if they are going to have a place to sleep, let alone afford Christmas for their children. All this money has been spent yet we have nothing to show for it.

The war in the Middle East has not stopped. The amount of money used to fund that war should be placed back into the United States economy. That money could fund better causes such as the building of America’s roadways and bridges, educational scholarships, and services for the general population, such as childcare and healthcare for low income families. But rather than put that money to good uses it continues to fund murder and hatred. This war is making private sector corporations that make defense weapons and machinery such as Northrop Grumman Corporation wealthier. In fact according to Forbes.com, Ronald D. Sugar, CEO of Northrop Grumman Corporation makes $8.56 million dollars each year. With a paycheck like that, I’m sure that he hasn’t felt the effects of the recession at all.

Unemployment in America is absolutely outrageous. It hurts me to see how many families suffer in silence. The best numbers that I have found in relation to the unemployment rate come from the Bureau of Labor and Statistics. Their site suggests that the national unemployment rate is a whopping 9.8%. The site reports the fields with the highest unemployment rates are in construction, manufacturing, the retail trade (consumer goods), and government. These are regular people who used to spend money here in America, thus the real reason why companies are going broke.

It is a sad but true realization but unfortunately this recession is nowhere close to being over. If people do not have jobs, how are they going to pay taxes? How will they be able to spend money in this economy if they do not earn any? Where will unemployed Americans live when they can no longer pay for housing? I can’t believe that an economist could actually say that this recession is over.