The Conservative Government left the Labour Government with large debts to the IMF and an increase in inflation in the economy. Although the Labour Government did not help this problem as they approached the IMF for another loan and its increase in debt meant that they had to decrease wages and increase prices, which then caused problems with the workers of the country. Due to a decrease in wages, many workers were unhappy and inflation led them to blame the government’s lack of control of the country’s finances for the financial problems that everybody faced. As inflation was rising, unemployment was increasing as in the four years of the Labour Government, unemployment rose by half as ‘key industries continued to shrink’. However, the government blamed the financial problems on the workers and especially the unions as strikes caused workforce to stop and the government went to the IMF, this however does not include Wilsons decision to devalue the pound as this was damaging on the economy because people were getting loess for their money and it disheartened a lot of the population.
Some federal programs have become so complicated and wasteful that perhaps the states should just let them die. Isabel Sawhill asserted that the two most significant recent changes in U.S. intergovernmental relations have been the enactment of a long-term plan for eventual reduction in federal aid to state and local governments and the substitution of block grants for matching grants. The potentially adverse ramifications of aid reduction have yet to surface because the strong economy has shrunk welfare caseloads and TANF offers states generous short-term increases in assistance relative to what they would receive under the old AFDC program. However, states would probably lower their levels of welfare benefits if the economy fell into recession, the incidence of single-parent families and poverty among children continued to rise, and the long-run caps on
It’s the process by which solicited bids are divulged as leverage with contractors to lower their prices. This is seen more often in specialty and trade contractors. Bid shopping may lead to a breakdown in trust and collaboration and is likely to cause a more contentious atmosphere between owners, contractors, and subcontractors. No payment issues have become a fast growing problem. The economic downturn hit the construction industry hard.
Everybody knows you're punished for doing something wrong or making a mistake. We're not talking spilled milk here, were talking about people's lives and millions of dollars that is being wasted. Many people and families lost their life savings, millions lost their jobs, and the whole economy crashed because of the actions of these narrow minded people, yet they have not been served justice and still have the large sums of money they got during the economic crash. It's not fair to these people because it's not 100% their faults that they lost their homes. The government tried to bail out the banks, after the bank made a lot of bad loans.
As more and more families continue to fall below the official poverty line (which in 2005 was an estimated $19,971) the government feels a greater sense of urgency to fix this problem. With the inflation of everything, especially gas prices, it is getting harder and harder for families like the Flintstones to keep up with the Jetsons. The last that could be decided as a social issue has to do with my second social issue which is the economy. Sine the Bush administration has taken over the white house, the economy has not been very good in america. With most of all the U.S. funds going towards a worthless war in Iraq, americans have been feeling the heat of our poor economy.
This is another effect of the war and how it impacted America. With all of the people who lost their jobs, the unemployment rate went down drastically. It became very difficult for people to find jobs and even harder to these people to provide for themselves and their families. The economy crash and recession hit the United States very hard and the citizens of the states are still trying very hard to recover from it. With the help of the government and the president Barack Obama’s efforts to create jobs, the United States are slowly starting to recover from this huge
Right now in America, we are in an economic crisis that is slowly tearing the seams that holds the country’s banking system together. This ‘recession’ affects everyone from single families to giant corporations because of the nature of the crisis. It began slowly, and is now moving quicker and quicker, with no apparent end in sight. It seems that everyone in America played their part in a tedious game that only took a matter of time to come crashing down around all of us. This crisis began to happen in 2007 when the rate of sub-prime mortgages and lending skyrocketed because of a bubble in the housing market.
Many Americans take on debt to secure a home or an education. When we take on more debt than we can handle, we’re faced with tough choices. And when we fall behind on payments, the costs can pile up quickly. So let’s look at it together: Below: Who owns the nation’s debt and what happens if we default? On G4: We also o er five truths (in a nod to our colleagues in Outlook, with their “five myths”) about the deficit and debt.
America faces an unprecedented structural gap between federal spending and federal revenue; and the political system is polarised over how that gap should be closed. Both problems have been a long time in the making, and neither is likely to go away even if a plunge over the edge is avoided” The Economist – 15 Dec 2012 Now what? The clustering of so much fiscal tightening at one moment in time was
Today, almost 12% of the workforce is included in the union membership ranks. This number is significantly lower than the number in 1956 (when union membership was at its peak). One of the main reasons for a decline in the membership, especially in the manufacturing sector (also known as the hub of the labor movement, back in the day) is because of the fact that many manufacturers are having to shut down due to downsizing and outsourcing. Almost 150,000 jobs were lost to foreign markets. A growing international competition has also impacted union importance amongst the industries.