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This 7 page paper discusses social and economic changes that are taking place at the national level, and in the state of Arizona. Bibliography lists 5 sources.
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7 pages (~225 words per page)
File: KV32_HVchstus.rtf
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Discussion The economy: There is no mistaking the fact that America at both the national and state levels is caught in one of the worst economic downturns in the nations
history. The financial crisis, as is well known, was fed by the creation, by banks and investment houses that should have known better, of a sub prime lending market. This
allowed people who should never have qualified for a mortgage to enter the housing market; it also enabled marginally qualified people to buy much more house than they could really
afford. As all such bubbles must, this one burst, and took the entire economy with it. Housing prices plummeted, wages fell, jobs were lost and the country entered the worst
recession since the Great Depression of the 1930s. It was feared that the entire financial system was going to collapse, which necessitated a "bail out," an economic measure paid
for by the U.S. taxpayers, many of whom remain unconvinced that it was necessary. The economic change at all levels has thus been staggering: it took place so quickly that
people could barely catch their breath before the next wave of bad news broke. The states are faring just as badly as the federal government, which has led to
some innovations in statehouses across the country. In New Mexico, Governor Bill Richardson has suspended the death penalty, not least because each time an appeal goes to the State Supreme
Court, it can cost up to $700,000 (Boulard, 2009). In Nevada, where prostitution is legal in ten of the states counties, it was proposed that each sex act carry a
$5 tax; the measure lost in the state senate by only one vote (though it might be fun to figure out how that law could be enforced) (Boulard, 2009). In
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