"In your opinion, what is the most important economical issue facing the United States right now?"
Of the many strong and significant economical issues facing the United States currently, I'd say the high unemplyment rate in the United States is the most important. As of June 2010, according to tradingeconomics.com, the United States unemployment rate was 9.5. Although the unemplyment rate has lowered from previous months, it is still alarmingly high. With the unemployment rate high, there are more and more people dealing with financial difficulties. Financial difficulties usually make it more difficult for people to purchase things and shop, which doesn't help the economy at all when people don't buy things. Besides, if nobody is buying anything, how will businesses and shops support themselves and keep/ get business going?
Businesses have to face many problems due to the high unemplyment rates like the supplying of products, resources, and materials when they don't even have the demand for them. Businesses usually have to lower their prices to get some of their items purchased. By buying but selling items for less than they paid for, businesses are losing money. With unemployment rates high, lower prices, and less people buying things, it's not much of a wonder why/ how shops and places are going out of business. Both GDP and a majority of businesses are sturggling to deal with the high unemployment rate but as an article from the associatedcontent.com says,"Companies that are able to perform well in the recession will be the victors at the end of the day." Supply-and-demand isn't working so well as businesses are stuggling to keep their own business going and capitalism looks to be having some hard times.
Bibliography:
"US PAYROLLS FALL, PRIVATE HIRING BELOW FORECASTS." tradingeconomics. Trading Economics, 2 July 2010. Web. 6 July 2010.
"The Effects and Reasons for Unemployment in the United States." associatedcontent. PB, 27 February 2009. Web. 6 July 2010.
Armanie – It would be interesting to see the unemployment rates for the years prior to this recession. Having this information would make your arguments stronger. You make some accurate statements regarding supply and demand and price points in a free market system. What types of businesses are struggling more during this recession? What are keeping some businesses open while others may be struggling? This is a good start, but I want you to develop your arguments more. Use specific evidence to support your arguments. For instance, what markets are hit the hardest due to the fact the American people are cutting back on spending? Does scarcity play a role in this equation? Again, a good start but be sure to really proofread your work. Content 4; Organization 5; Total 27/36.
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