One of the most significant changes that changed American lives was technological advancements which is very helpful to many Americans. Technological innovations took place in …show more content…
It was awful because poverty took over and many Americans suffered during the recession of 2008. As in 2007 the national debt reached $9 trillion dollars for the first time. Also, the housing market collapsed that year causing many americans losing their homes. This was the cause due to banks giving out loans for mortgages to people who could not afford the houses they bought in 2008. Therefore, the economic crisis worsened and many financial corporations fell. The unemployment rate reached ten percent by 2009 as many of the companies were affected by the economic crisis and resulted in laying off most of their employees. It was so difficult for anyone to find a job during the recession because employers could not afford the extra staff. I remembered when all my favorite teachers were being laid off if they worked under five years. I always wanted to be a teacher but I changed my thoughts after seeing how many teachers were being laid off. The recession was even so difficult on small business. My family’s income changed in a matter of one