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It is reported that most of these people have failed to get jobs, attempt after attempt, even for reasons such as over-qualification (Fish, 2014). After the recession, economists argue that however much the economy improved and more (re)gained employment status as a result, it has not done so sufficiently to completely tackle the unemployment situation. John Mitchell blames this retarded growth on Congress with their standoffs over the debt ceiling, expiration of the payroll tax cut and the sequestration induced federal spending cuts. Traditionally, an unemployment benefit last 26 weeks but this period was extended by Congress during the recession of 2008 when many unemployed people found it difficult to find new jobs. Many of these unemployed people depended on these benefits for their daily livelihoods until they were informed that the benefits were being halted henceforth, leading to strained lifestyles and severe public outcry. Jennifer Taub, for example, is now accepting help from the extended family against her wishes while Caroline Trude-Rede has since resorted into selling off her valued possessions in order to sustain herself. The House and Congress continued to debate on the extension of unemployment payments in January, 2014 but failed to vote as they recessed for the Martin Luther King Jr. Holiday. This move and dalliance has furthered uproar with the President being accused of not doing enough to renew long-term unemployment benefits (Fish, 2014).
In my opinion, the skyrocketing unemployment rates is a major concern in the United States and one that must be dealt with promptly and with the seriousness it deserves by the government if its far-reaching effects are to be checked. The economy must be improved to ensure creation of more employment opportunities and care for the retired and unemployed. In the meantime, the government must not regard the unemployment
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Since all mind-level arguments have mind level counter arguments, to arrive at the final solution is impossibility. In “Myth of Sisyphus,” Albert Camus argues, “Happiness and absurd are two sons of the same earth. They are inseparable. It would be a mistake to say that happiness necessarily springs from the absurd discovery.”(439-440 n.p.) Analogy like pushing a boulder up a hill will not help to reveal the truth relating to human existence in this world, seemingly full of contradictions.
This action has established chairman Bernanke as the white knight that will "ride to the rescue whenever markets falter". The author presents ample evidence of the historical success that interest rate reduction has had on the stock markets. The article reports on the success that the 1998 cuts had in the midst of the Asian crisis and the collapse of a major American hedge fund.
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However, the drop will alienate potential long-term investors and demoralize the subordinates. On the other hand, pricing them too high will attract the attention of the people and increase the buying frenzy (Raice, 2012).
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