American Economy after September 11th :: September 11 Terrorism Essays

American Economy by and by September 11th"Every president is dealt a hand of cards," give tongue to John Shoven, a Stanford University economist and senior fellow at the conservative Hoover Institution. " crotch hair inherited a pretty tough hand."When hot seat Bush took the office in the year 2000, things were moving smoothly on the surface. Undercover there was havoc. Tragedy of September 11th shook the innovation but it shook the US most.Technicall(a)y speaking, one would say ofcourse it rocked the US, subsequently all it did happen in US. But if truth be told things went descending(prenominal) instantly. US economy was affected the most. With the twin towers erased from the surface of the country and scotch records in the form of ashes- only the wisest of the wise could pose pulled the country affirm from meeting its fate. But with the blessings of the current president, the country met its downfall soon.Facts and figures be understandably given in Davi d Lazaruss report which appeared in the San Francisco Chronicle suffer year on the 11th of August. He very plainly states that When Bush came to power the U.S. economy was at the tail end of a dot-com-fueled ripple that couldnt have been sustained under any circumstances. A recession, most economists believe, was all but inevitable. Jared Bernstein, senior economist at the liberal Economic form _or_ system of government Institute in Washington states The presidents key economic error was to go somewhat to stimulate the economy by skewing the benefits of three tax cuts toward wealthy Americans. fit to Citizens for Tax Justice, a liberal-leaning Washington think tank, nearly forty portion of the benefits from Bushs tax cuts will go to the richest 1 percent of Americans, those earning on intermediate $1 million a year. By contrast, only about cardinal percent of the benefits will go to the sixty percent of the population earning $45,000 or less. "The tax cuts made no sense as a stimulus measure," said Bob McIntyre, director of Citizens for Tax Justice. "If you want to stimulate the economy, you have to give money to people who dont already have it." Bernstein said a crucial problem for many Americans today is that wages are significantly lagging behind inflation. With prices up 3%, the middle classs income has become far worse than how it was four years back. People are now clearly stating that things have become very tough financially.He has made it note worthy that it would take extraordinary growth -- about 400,000 new jobs a month (august 2004 and November 2004) -- for Bush to avoid the dubious line of being the first president since Herbert Hoover to see a sort out decline in jobs during a term of office.