As we all know, the United States financial status hasn't been this dangerous since the depression due to several events. First of all the wars in Afghanistan and Iraq paired with the lower taxes really set us into the mode. Then the giant Google stock market crash and the trade agreements that we signed caused massive job losses and stagnant wages. Although fighting major revenue loss the cost operations continued to sore due to energy cost. The real estate market was booming on unstable loans counting on significant wage increases. When wage increases didn't not reach the expectations the real estate market collapsed therefore leaving the United States at a crucial pass. We then bailed out the financial institutions, putting further financial strain on the economy and government. When Bush took over the presidential office, the Clintons had the country in the black; by the end of Bush's term we were so far in the red it was incredible that just one man could destroy such a stable, prosperous country.
The friday after Thanksgiving is known as Black Friday; its a day when passionate consumers wake up at ungodly hours and wait in line for those great sales on items such as a Williams-Sonoma salad spinner they don't even need but can get at the lowest price of the season. Even though our economy is in terrible condition with a multi-trillion, growing, dollar debt the expectations were that the country would still find a way to spend 2.5 percent more on Black Friday than last year($41.2 billion). On an average in 2008 people spent in the mid to high three hundreds per person. This year could have been classified at disappointing because our country spent about the same amount as we did last year. I think that its surprising that we even spent that much due to the economic status.
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