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| The United States Economic Recession | |
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| Topic Started: Jun 13 2009, 07:10 PM (158 Views) | |
| Stephen | Jun 13 2009, 07:10 PM Post #1 |
Mine! Or I will help you not.
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At the end of 2007, the United States entered a recession. However, the full effects of the recession were not fully felt until the fall of 2008. This started with the trouble in the Housing market. This in turn affected the Banks who were holding "toxic" assets- loans that could not be paid back. Gradually, the effects of the recession were felt across the entire country. Circuit City, Linens and Things, KB Toy Works, Chrysler, General Motors and Six Flags are just some of the many businesses that have filed for bankruptcy. In February 2009, Congress approved a Federal stimulus bill designed to stimulate the economy and speed up economic recovery time. Economists predict that the recession will end by 2010 but warn that things may get worse before they get better. Topic Rules
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3:55 PM Nov 22
