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This 5 page paper considers the question of what it will take for the US economy to recover. This paper considers the impacts of September 11th and the changes in the economy in recent years, addressing specifically what elements must change. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: MH11_MHUSEco2.rtf
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Unformatted sample text from the term paper:
11th and the continued poor economic conditions that have gone hand-in-hand with the Bush Administrations tax refunds and push into the second Gulf War have served to deteriorate consumer confidence,
increase the unemployment rate (which is now the highest it has been in decades) and increase the impact of policy lags. So what will it take for the United
States economy to recover? Some say that it is necessary to address all of these elements to determine substantial economic change. Following the attacks of September 11th, the United
States economy dropped to a low point, with many criticizing the Bush Administration for the poor economic conditions and high interest rates. Since that time, there have been a
few moments of positive light, when projections suggested that the economy was on the verge of a major recovery. For example, in November of 2002, following the Bush
Administrations tax "refund" (which was actually simply an "advance" on the next years tax refund), the US economy showed a brief sign of renewed strength, with the jobless rate falling
some and signs of improved consumer confidence (BBC, 2002). Certain indicators showed support for the end of the US recession, but this change was short-lived. At the time,
the US jobless claims rate dropped to 364,000, the lowest level in nearly two years (BBC, 2002). At the same time, personal spending had increased and was higher than
the growth rate for income (BBC, 2002). Finally, durable goods orders, for things like washing machines, cars and other equipment, increased for by almost 3% between September and October,
a welcomed rise (BBC, 2002). By October of 2003, though, changes had occurred that left many wondering if recovery is even possible. New figures from the Labor
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