Friday, 21 March 2014

Poverty in the USA

Poverty in America has been standing still since the Great Depression.  In August of 1929, the worlds most powerful nation, United States came under a Great Depression where it became the most poorest country in the world. The Great Depression has created economical downfalls that has postponed and helped to reduce spending, falling confidence, and lowered production. ( Says wikipedia. ) 

Wikipedia states that, when recession of 1937 brought back 1934 levels of unemployment, our economy just went back up in a spiral upward back in 2012, when President Barack Obama became the first African American President of the United States of America ever in history of nations of Presidents. He is the 44th President of the United States. 

There are many theories that caused the Great Depression back in the beginning of 1929, where our President Bill Clinton grew up during the depression, who then, later in life became the President and later was impeached in 1998. 

The theories behind the Great Depression which lead America in to poverty, has been named as , orthodox classical economics, monetarist, Keynesian, Austrian Economics, and many, many more.

The political results were a great out come during the Great Depression and after. The Great Depression was a tough and a horrible time that when American citizens suffered greatly during the depression. Although, it did more good then bad. Great Depression helped to set minimum wage, says wikipedia. It also helped to encourage unions that it would raise wage to workers and their employers to create possible living wages for Americans that were suffering greatly in the Depression it's self. Like, President Bill Clinton who was born on August 19th, 1946  in Chester Hospital in Hope, of a town of about nine children of a poor farmer in Sherman Texas who later died when his father was seventeen.   ( Says Bill Clinton auto biography. ) 

The crash of Wall street which was titled as " The Great Depression " has downsized the American economy from $103.6 billion  in 1929 to $66 billion in 1934 says a website (www.

By Anastasia Khramova

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