The U.S. seems to be spiraling out of control in debt. The woes of America, as reported by Mainstreet.com, all began back in 2007. Yes! That is correct…pre-President Obama. Bush left us in such a mess that back then experts started to fear a double-dip recession, which is defined as the economy recovering only to take a plunge again. The report states that in the last weeks of 2008, the National Bureau of Economic Research revealed that…SURPRISE! The U.S. was in a recession.
This report you are about to read is quite disturbing. It is like reading the U.S. Economy 2010 for Dummies. The unemployment numbers are rising more often than falling and we have an oil leak that is so massive the area has killed wildlife, sea life, and last, but certainly not least, livelihoods of fishermen throughout the region surrounding the Gulf of Mexico. The housing market can’t grow no matter how much people buy because the foreclosures are offsetting the progress.
Don’t feel bad though. While it may be depressing and represent what your’e going through in a direct way, you can find comfort in knowing…WE’RE ALL THERE!! Check out this economic breakdown…no pun intended.