Discuss The Impact Of The Great Depression On Today's Economy

The Great Depression was the economic low point in the United States history. Building up the nation's economy was an exhausting process that took decades to improve, and even today there are still many Americans still being affected by the Great Depression. The computer revolution and the House Minority of the Whip, Newt Gingrich, through hard work, began to improve the United States economy during the 1980’s and the 1990’s through the buildup of new policies, job creations, and programs. Not only were there a lot of people who benefited from the recovery of the economy, but there were also a lot of people and businesses that did not benefit in the recovery of the economy.
The computer revolution had some of the biggest impacts during the
During this time, America was in a large drought, and this caused the farming business to go downhill due to the inability to grow crops (American History). Further problems with the farming were due to the decline in agriculture exports, an increase of interest rates, and the prices of crops began to drop (American History). President Reagan implemented tax cuts, which affected the wealthy since they were forced to pay more in taxes. The middle and lower class benefited from these tax cuts, as the poor were not required to pay as much taxes as the rich (American History). The federal government was also required to shut down many programs due to the tax cuts. In 1980, the federal budget deficit skyrocketed from $74 thousand million to $221 thousand-million, before it began to fall back down to $150 thousand million in 1987 (American History). The banks also did not benefit from this economy boost. Due to the recession, business bankruptcy rose 50% over the year
All of these cuts made it problematic for agencies to properly operate and contribute to the societies belief that the government could not be trusted to properly do anything right (“Profiles of U.S. Presidents”). That same year, the United States Trade deficit reached a record of $152 thousand-million. Many people did not believe the economy was improving after the stock market crashed again in 1987 (American History). Although there were many positive actions and policies that have been implemented within the United States government, there were still many things that made the growth of the United States economy much more