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Global Sluggishness Will Slow US Recovery - Essay Example

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The purpose of this paper “Global Sluggishness Will Slow US Recovery” is to analyze whether the government spending spree was necessary for the nation or whether it was detrimental for the nation. America is going through some harsh economic times…
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Global Sluggishness Will Slow US Recovery
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Download file to see previous pages When I was layoff like many other American workers who have been victims of massive layoffs all across the nation I felt very nervous about the financial well being of me and my family. In the past, I felt the government was never there for me, but the new democratic regime seems to really care about my needs. The fiscal policies of the government are including the proactive measure to help alleviate our problems. For example, as I was receiving unemployment benefits I received a letter from the government that my benefits had been extended by an extra 20 weeks which raised the overall total potential timeline to 59 weeks. Those extra weeks sure provided me with much needed financial relief. A friend told me that I am going to be receiving some extra cash reimbursement from the government after I file my tax returns which were an initiative approved by Obama as part of the stimulus economic package.
The money the government spent to help the economy were very large figures which altogether surpassed the trillion dollar mark. It was sure a lot of money, but the catastrophic economic situation justified the decision. First of the banking industry was given over $700 billion dollars. I first I thought that the banks that many times deny you a loan now wants us to give them some free money, but when my brother called me to inform me that his second mortgage loan had been denied I knew that the government needs to do something. My brother always pays his bills on time and he has a good steady job. I was actually going to be the beneficiary of a part-time job from that mortgage loan transaction since his plans were to renovate the home. The CEO of Unity Bank, James A. Hughes said “The capital raised under the Treasury program". ...Download file to see next pagesRead More
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