Recession Depression

April 7, 2010  
Filed under News

Just about everyone has been affected by the recession that hit our economy. Jobs have been lost, grocery prices have risen and tenants have been evicted. As the new year came around, many new government programs hit the market allotting money towards those greatly affected by the horrible economic crisis. Now, everyone is questioning whether or not we are starting to crawl out of the economic hole we fell into just a year ago.

Christine Thrall, senior, thinks that it may take time, but eventually the crisis will end.

“It’s going to improve because of the economic cycles. Eventually we will be pulled out of the recession, you just have to let the cycle run,” Thrall said.

Unemployment rates have never been so low since the last time a depression hit. Yet in January rates fell to a surprisingly low 9.4 percent. This came as a shock to many people. Though it did drop, do not forget the 6.3 million citizens that are currently unemployed and struggling to make ends meet. There are families to be supported and houses to keep together, jobs are a must.

Along with the lower unemployment rates, grocery prices have also dropped at the start of January. Grocery prices have dropped 2 percent from last year, even though restaurant prices have risen. The cheaper decision would be to eat home cooked meals and save the restaurants for special occasions. You will have more money in your pocket to spend on other necessities, like your house.

Housing prices are said to remain unsteady until late of this year. Mortgage rates are on the rise though, getting a loan may be harder than you expect. Bankers are saying more and more are becoming late on their payments.

Riley Bunce, sophomore, thinks that President Obama is giving it his all.

“I think Obama is giving it his best shot and working hard on trying to improve things,” Bunce said.

At the hope of a new beginning, most people are hoping for a miraculous economic recovery. Once they do, maybe daily life will return to normal, houses will be kept, grocery shopping will not be so hard and men and women will be able to find and keep new jobs.

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Emily Leadbetter

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