The Importance Of Recession In The United States

The economy is all the activities related to making and distributing goods and services in a geographic area or country. It is made up of four stages: recovery, peak, recession, and trough. The recovery is when the economy is growing. The economy has been doing well and it is improving. The peak is the point at which the economy is robust. The economy has been growing for a while and it is at its highest point. The recession is when the economy is on a decline. After the economy has been peaked for a while, a recession will occur. The trough is when the economy is at its worst point. It will not improve for a while. Right now, I believe that the economy is at a decline. I found some articles that have given me points that have proven that we are in a recession. …show more content…
The article is titled What Economists Think of the U.S. Defaulting on its Debt: ‘We Aren’t That Stupid!’ This article mainly describes some economists’ views on how Congress is handling our debt at this time. In 2013, we had a government shut down for a little more than two weeks. This is only one example of how the government is handling our financial situation. Congress is currently debating over whether or not to raise America’s debt limit. The author of the article, Josh Zumbrun, asked some economists what they thought of the idea. Joel Naroff, from Naroff Economic Advisors, said, “Not enough wackos to do that.” Stuart Hoffman, from PNC Bank, had a strong opinion against this. He said, “Stupid is what stupid does. We aren’t that stupid!” As you can see, the professionals in finance don’t see this as a good