Bankruptcy filing is at its highest since 2005 as of now. Already in the first qharter of 2009 the rate of bankrupts rose ten percent from the previous quarter. It is up 35 percent from the previous year, and business filings are up 64 percent. The rate is expected to increase with the unemployment rate headed towards 10 percent. This is a terrible thing that is going on in America. I never would have imagined with us being one of the richest countries that we would be going through a recession period. The government spends all their time trying to help people in other countries rather than take care of business in our own backyards. I cant blame the rich for not helping out to much because you have to hold on to everthing you have until this reccession blows over.
Terrell Jones
POS2001 12p.m M-F
June 9, 2009
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3 comments:
This doesn't tell me what you think about the issue, so you can't get credit for it.
If your never imaged that America could go through a recession, you must have forgot about the great depression. We have gone through a recession more than once. It is absolutely impossible for for any economy to stay on top forever. Foreign aid is not the reason we are going through this recession. It is small part of the total money spent by our government. We need to focus all of our energy on how we plan to get out of this recession.
Justin Ford
POS2001
9:00AM M-F
I agree with the top post. You can not expect for an economy to stay on top forever. Although I believe foreign aid has some part in our recession, it is not 100% their fault. We need to stop spending money in areas that do not need any help and more money in the areas that are sufferung. The government needs to start thinking of ways to help get us out of this recession. For example, President Obama's health care plan.
Natalie Bellini
POS2001-12pm
June16, 2009
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