The Economic Downfall Essay

2265 Words Jun 2nd, 2011 10 Pages
The Economic Downfall 1

"The Economic Downfall"
Franita Roberson
May. 1, 2011
Dani Mclean

The Economic Downfall 2
We are in a mist of depression, both economically and emotionally. Even though the government can't make a stance in this economic crisis, we won't recover because of unemployment, gas prices, funding for housing, human development, and health care for the aging and disabled. Unemployment has increased to an all time high in the year of 2011. The government is at a constant battle with each other, while we as Americans are in a struggle to survive. It has been reported by the (U.S Bureau of Labor Statistics) that the unemployment rate has risen by 11.8% from the year 2006 to 2011.
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See, it all boils down to the fact that higher prices in gas prices will lead to less spending in our economy. Some people think that if we were to tap into our reserve that it would not be to help our shortage, but to manipulate our oil prices. In this day in order for an individual to travel from Texas to Arizona which is a total of eight hundred and forty one miles. That individual trip would cost three hundred dollars just to travel one way. Things are completely getting out of hand! The high gas prices, the war, and tapping into the U.S oil reserve only leads me to believe that it will be extremely hard to recover.
The Economic Downfall 5 All of the up roar about the gas hikes has lead us to the question of who's really benefiting from this crisis. It seems that the state oil marketing companies are facing most of the loses. The decision came down from the oil companies to hike the petroleum prices. The Indian oil, Lybia oil, Bharat oil, and Hindustan are the major oil suppliers for the United States. These three states are also the ones that are not showing any effort in reasoning for their oil. Finance Minister Purnhab Merkajee abolishing imports and excise duties on petroleum products from these states. That seems to be the only way to control their budget and save ours. The U.S congress is upset that no one consulted them before raising the prices of gas. Individuals feel that this is the result of most of our

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