United States Economic Crisis

Challenges for the working class The coming U.S. stinting crisis Rising hurts. growing unemployment. For millions of workers across the United States, times are toughand acquire tougher. For those already without jobs and living in poerty, the last decade of cutbacks in social programs has fuddledt ever-growing hardships. Before Hurricane Katrina ravaged the Mississippi delta, economic forecasts were, on the whole, rosy. Now, the story has changed. Katrina pushes unemployment rate higher, the AP reported on Oct. 7. Katrina contributes to drop in spending, read an Oct. 1 Washington Post headline. There is no doubt that the devastation caused by Hurricanes Katrina and Rita moment ripple passim the U.S. sparing. The Congressional Budget Office estimated that 279,000 people lost their jobs due(p) to Katrina alone. (AP, Sept. 29) That add up may grow. The hundreds of thousands who fled the region to other parts of the coarse mean that the unemployment crisis w ill not be regionalit will be snarl around the United States. But the weaknesses in the U.S. economy uncovered by the hurricanes are not the result of a natural disaster. They are symptoms of the capitalist economy, characterized by economic booms followed by crises of overproduction. In fact, stains of trouble for the U.S.

economy could be seen in the months lead up to the September hurricanes. On July 22, U.S. Federal harbour guide Alan Greenspan warned of significant uncertainties about the economy. Rising Energy Prices An self-explanatory sign of the uncertainties that the U.S. top central banker referred to is the rising price of inunct and gasol ine. The price of a barrel of crude oil has ! lift from an clean of $31 in 2003 to peaks of over $70 in September. contradictory the economic data usually far remote from workers casual reality, soaring gasoline pricesin some cases to over $3 per gallonand impending heating-oil price hikes are macrocosm felt by millions....If you want to get a wax essay, direct it on our website: OrderEssay.net

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