What is the current state of the U.S. economy and is the recession over?
recession is over. According to recent reports, the recession has been over since June 2009. However, the unemployment rate and the housing market prove otherwise. Drive up and down any street and if you look closely, you will see that every other house or two is up for sale or auction. This is because many families cannot afford to pay the mortgage on their homes. Although houses are up for sale or auction, people simply are not buying. Mortgage rates are dipping lower while government aims to create incentive for customers to buy. People simply are not falling for this because they cannot afford what they already have, so why would they go out and start over? The unemployment rate is around ten percent for the nation. Those who lost pensions and benefits because of the recession are around twenty percent. People are able ready and willing to work but when the jobs are not available, they have no choice but to be unemployed. Lawrence Summers the top economic advisor for President Obam
