Voices of the Recession Six-Year-Old Thesis

Total Length: 2092 words ( 7 double-spaced pages)

Total Sources: 1+

Page 1 of 7

Those earlier recessions introduced the country to the concept of mass white-collar layoffs. The brunt of the layoffs in this recession is falling on construction workers, hotel workers, retail workers and others without a four-year degree" (Leonhardt 2009). Consumer spending has been contracting more quickly than employment has been growing -- something that Rob has witnessed first hand.

Because construction has been so hard-hit, another social shift is that of households where women, rather than men, are the primary breadwinners. Construction worker Dave Christie still gets the odd job here and there -- just far fewer than he did only a year or two ago. On the other hand, his wife Molly, who works as a waitress, has had steadier work, although she acknowledges that customers are eating out less, drinking and eating less expensive menu items, and also leaving smaller tips. It has been observed that "The Great Recession of 2008 (and beyond) is hurting men more than women" and Dave said that his esteem as well as the family pocketbook had taken "a hit" (Leonhardt 2009).

One striking features of the recession as well is that because it "is hurting homeowners and investors more than renters or retirees who rely on Social Security checks" it may not only change the occupational 'face' of America, it may also permanently alter patterns of home ownership (Leonhardt 2009). Individuals who have taken mortgages and bought 'more home than they can afford' may still have their jobs, but that does not stop the phone calls late at night from creditors, or the stress of daily wondering what bill they should avoid paying this month.
"It's borrowing Peter to pay Paul," is how one homeowner described it, who preferred not to be identified. When asked if he would 'do it all again,' however, the man blamed unscrupulous lenders, rather than himself for his situation. He said he was a first-time homeowner in his family and neither he nor his wife had any understanding of mortgages.

Individuals facing foreclosure tended to have a clearer idea of why the crisis had occurred, versus recent graduates and people who had lost their jobs. All blamed the banks, and some blamed politicians who had 'let it all happen.' A common lament was that Washington had bailed out the banks that had 'got us in this mess' but not ordinary homeowners. Most, however, took a favorable view of the Obama Administration in the sense that they believed that he was doing "the best he could," in the face of extraordinarily difficult circumstances.

"Sometimes there are things that are bigger than you, I try to tell Keri," said Stacey, as she watched her daughter get ready to do her homework at the kitchen table, after the family had finished dinner. "Sometimes even if you do everything right, there are things you can't control."

Works.....

Show More ⇣


     Open the full completed essay and source list


OR

     Order a one-of-a-kind custom essay on this topic


sample essay writing service

Cite This Resource:

Latest APA Format (6th edition)

Copy Reference
"Voices Of The Recession Six-Year-Old" (2009, June 01) Retrieved May 16, 2024, from
https://www.aceyourpaper.com/essays/voices-recession-six-year-old-21445

Latest MLA Format (8th edition)

Copy Reference
"Voices Of The Recession Six-Year-Old" 01 June 2009. Web.16 May. 2024. <
https://www.aceyourpaper.com/essays/voices-recession-six-year-old-21445>

Latest Chicago Format (16th edition)

Copy Reference
"Voices Of The Recession Six-Year-Old", 01 June 2009, Accessed.16 May. 2024,
https://www.aceyourpaper.com/essays/voices-recession-six-year-old-21445