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What will happen with the economy in 2012 as jobless benefit expire for many Americans?
December 13th, 2011 | 
Author: Question by Gio Peincke: What will happen with the economy in 2012 as jobless benefit expire for many Americans?
are we really headed towards another 2 consecutive Qs of negative gdp growth, aka recession. what is going to be done about this???? Is this Inevitable? What is going to be done to innovate are way out of the recession road???
Best answer:
Answer by championjdg
yes we are heading to a recession. its really depression. this president cause it with his government spending. the election may change things if we election a really republican. not a rhyno.
What do you think? Answer below!
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The answer to the first part of your question can be summarized in 5 words: a total collapse of US economy. Think of it this way: As the budget is getting trimmed down, lots of companies will be forced to either go out of business or reduce their size. From healthcare to educational services and even defense “industries”, layoffs will be massive, widespread and you will see a ripple down effect that will impact every sector of this economy. Is there a way out of this horrible scenario: Yes but it will take lots of selflessness, discipline and courage on the part of the entire nation. Budget cuts without an additional stream of revenue will never do the trick. You need to reform the tax code, the legal code, tear down the current educational system and build a new system that is technologically relevant and is skills/research based (no more useless college degrees). It’s very hard to implement all of these things but the other way out is for a traditional world war III or for an asteroid to hit a part of the earth to cause enough destruction to start a new construction cycle.