| Is Average American Poorer Today |
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Although the US economy has huge reserve buoyancy, it is surely facing a recession today after a period of about twenty eight years of comparative upswing. The recession, coupled with the bankruptcy of two long standing pillars of the US banking system and the subprime crisis show clearly that the US as a whole is faring poorly.
These are mostly bad days for the average American in the US. His long cherished dream of owning a home for his family lies largely shattered. Girth tightening measures are in place due to the US economy having dwindled and through across the board job cuts throughout the US. It has meant that he and his family somehow barely eke out a living in these times of fluctuating fortunes and gas prices. There are many signals that the average American has suffered a drastic downturn in fiscal status. You see housing available now in the US at very cheap prices, but with no domestic buyers. It seems to be a time when each and every one of the average American is striving hard to save every single dollar that he can. Domestic markets are sluggish, if not idle and the Dow Jones southbound index seems to mirror the predicament of the average American. Even the US dollar has fallen on bad times. What are all these signals of, but that not only the US economy is in poor shape, it has hurt the average American in the US more than other sections of society there. You see today more use of cash transactions in the US today rather than the use of credit cards. It is clearly an effort by the average American to try to adjust to the downturn in his fiscal situation. The average American in the US has seen much better times than today. How he becomes sadly nostalgic now about the good old days when his children were all studying in school. Today most such children have had to also adjust to the changing times by doing a part time job, besides educating themselves, and helping their father to meet ends meet. What to speak about the average American, those who have always fared better, have also had to adjust to the unwelcome trough in capitalist economics. Americans as a whole have reacted to the recession by ousting the Republican Party from power in the recently held elections for the US President and Congress. It shows that people were disillusioned with the way the Bush administration dealt with the US economy. However, although the times may not seem very good today for the average American, he has great hope in Barack Obama and in his own way out into sunny days once again. It will not be long before America rises once again to its former glory. Related Articles
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