I write to you twelve years down the road. From 2013 until now, times have definitely changed for the worse. Instead of making the difficult decisions necessary to altering the economic devastion, we have continued down the same path for years and unfortunately, our once great country is sinking deeper and deeper into the crapper. Twelve years ago, the American system was no doubt at a weak point. The finanacial sector had been revealed as weak, unemployement had heighted to about ten percent, etc. Because these flaws have only grown more evident, our dominance throughout the world has shrunk, but our tax prices have not. President Justin Bieber (haha no..) and the government have continuously been raising taxes as our national debt has sky rocketed in to the 16 trillions and the once 82 percent of GDP has risen to 100 percent.
On a more personal note, I am one of the 15% of unemployed Americans. For seven years I was a second grade teacher at Byrom Elementary School. As there has been slower GDP growth, a slower employement growth has resulted as well and more government jobs have been cut. In addition, gas prices have reached $8 a gallon as supply is extremely limited. My husband and I bought a family set of bikes and use these to transport ourselves and our two kids around the city. Speaking of cities, nearly one and a half million people are now moving to the cities to become part of the developing markets and as a result, there has been a rapid increase in output per worker. Lastly, over the last twelve years the government has established a much larger role in the economy and lives of the people. The governemt has had to involve themselves through intervention regarding regulation and the market place.
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