Recession officially ended in June 2009

Julia

Topic: Economy
Title: Recession officially ended in June 2009
Writer: Chris Isidore
Date of Publication: September 20, 2010
Length: 656 words

Main Idea: According to the body in charge of watching the economy, the recession is over. However, many are still worried about a "double -dip" recession, when there are two major downfalls in the economy, one after the other. Fortunately, the National Bureau of Economic Research released information that showed that the economy had clearly risen after last year's summer. The depression that occurred from December 2007 to June 2009 is the longest and worst depression America has faced since the Great Depression. NBER acknowledge the possibility of having a double0dip recession occur, but they said that if it did happen, it would be a new recession rather than a continuation of the on that started in December. Both Obama and NBER agree that just because the economy is rising back up, it does not mean it is in good shape, and it does not mean that there is a lot of economic activity. NBER is known to examine their data very carefully and very thoroughly. As a result, they take quite some time to give their opinion. This means that when they do give their opinion it is often accurate and reliable information that people can believe in. That's why many are so positive that it did in fact end in June of 2009.
Conclusion: Overall, the economy is still in danger of having a double-dip recession, but economists are more optimal about it not occurring then they were before. It will still take quite some time for the economy to go back to what it was before and many people are still jobless, but there is a steady increase in the overall economy, so while it may seem that the economy is still in recession for a majority of people, economists have given enough facts to show that the recession is clearly over.
Opinion: In my opinion, the recession is still very real for many people even though it is technically over. The results of this recession will last for much longer than I think people are predicting, and it makes me worried about the conditions of people who live in poorer areas. The recession may cause more side effects that have not shown up yet, such as an increase in homeless people and a decrease in family size. The recession in my mind is not over.