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Introduction
The United States of America is currently facing domestic problems ranging from social, economic to health care issues. Some of these problems can be related to the formulation of bad policies of governance by the federal government and the ignorance of the people of the United States of America and the overwhelming global recession and economic depression. The United States economic problems are our major issue of concern.
Over the recent years, United States economy has indicated a gradual decline resulting to cases of job cuts; which is presently one of the major economic issues in the United States. Increased job cuts by corporations poses a major challenge of increased unemployment rates in the United States.
The United States seems to be facing a major economic disaster from all major sectors that contribute to its economic development. There is no sustainable economic improvement in major sectors like housing, health services and small scale businesses. Major businesses and financial corporations are evaluating strategies to cut down operational and overhead costs in order to remain in business.
The result of these is employee underpayment, stringent working conditions and increased job cuts. This results in increased cases of unemployment which amounts to increased crime rates. Many people can’t afford to sustain their lifestyles and thus they resort to unethical means of trying to make ends meet.
The United States in the verge of being bankrupt. Some of the problems that driving the nation into bankruptcy include: a deteriorating education system, crime, drugs, declining productivity, declining economic growth, huge national debt, large trade deficit and many others.
The economic structure of the United States can be viewed as comprising the a smaller number of rich and extremely rich at the top, a large number of poor people at the bottom and a powerless middle class in between. If immediate attention and preventive measures are not put in place, the United States will find itself in the trappings of the third world countries; characterized by an increased number of homeless people and beggars on the streets, increased crime rates and the drug epidemics are becoming extreme.
Economic problems facing the United States are due to their spending habits, as a nation, the unites states tend to spend more than they earn, their levels of consumption is more than their levels of production and this results to an increase in the national debt as days go by. It is projected that the United States will in the near future be consulting counties like Japan, china and European countries to oversee all Americans economic decisions due to the need for more cash from abroad.
The economic problems facing the United States are mainly due to ignorance and lack of proper formulation and implementation of good financial policies to help the country’s spending and increase its productivity. Solutions to these kinds of problems can be arrived by sensitization of the public in order to create awareness of the global recession so that they can embark on combative measures.
Formulation of policies that steer industrial production is also required so as to increase productivity. The business enterprises must establish preventive measures and strategies to help them check their business operations in times of economic depression and recession. The nation as a whole should also regulate its spending habits so as ensure there is no huge national debt.
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