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Essay / Research Paper Abstract
This 4 page paper examines the economy at the end of 2005 and looks to the years ahead. Why Katrina did not have a devastating effect on the national economy is discussed. President Bush's position and anticipated State of the Union address are included topics.
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Page Count:
4 pages (~225 words per page)
File: RT13_SA604eco.rtf
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of Hurricane Katrina, there is a sense that because the people who lived there were poor, the help was delayed. The government claims that the statement is not true. Others
complain that if it were not a black area, the levees would not have been in disrepair. Many claims to this end were made and Katrina has been seen as
being representative of a divided America. No matter what one says about Katrina and its wrath, there had been expectations of economic disaster. The disaster was viewed by some as
another 9/11, but is that really the case? The economy, as 2006 begins, appears good. Did Katrina have an effect? Either way, why does the economy seem to be so
good in seemingly troubled times? First, it should be said that Katrina did not devastate the U.S. economy. Bowyer (2005) explains that the media exaggerated the damage caused by the
hurricane. Also, it would take some time for economic ramifications to come into view, and when it did, the information was surprising (Bowyer, 2005). In fact, GDP for the third
quarter of 2005 grew 3.8% (Bowyer, 2005, p.7), which turns out to be higher than average. It should be noted that in the previous quarter, growth as at 4.1% ("U.S.
Economy Increases," 2005). Still, the economy is good, and it is much better than it has been for some years. There is no question about that, but what is questionable
is why. Why is the economy good now? While there are questions as to the cause of the improved economy, there is also an enigma, which is why people
are not celebrating this glorious economy (Dunham, 2006). One interesting insight is that during the Katrina fiasco, the administration did not want to boast about the good economy, so they
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