Abstract It is time for our government to take a step away from war and look to meeting the needs of their own citizens. The need for health care reform is more evident than ever. The recession of America has caused many people hardship due to many lay-offs and the fact that insurance premiums have risen drastically. Many families are not receiving the health care that they require due to these circumstances. It affects not only the young, but the senior citizens as well.
As the elderly leave the labor force and consume a larger share of goods and services, our economy will suffer along with the wellbeing of all Americans. Lower supplies of workers and output and a larger older population that is dependent on younger adults, will cause a heavy burden on the labor force. The United States will also be affected by means other than just the labor market. Older adults spend more on public services and programs like health care and housing compared to younger adults. In addition, diseases that sometimes come hand in hand with old age, like osteoporosis, Alzheimer’s, or diabetes, will lead to a shift from acute to chronic illnesses.
The pre-existing health conditions of the patients causes premiums and out-of-pocket costs to increase, and sets a toll for the more healthier people, who are more eligible for more options, to leave the health plan. This problem creates a spiraling cycle into bankruptcy of companies and leave people dying, because an increase amount of the sick are left uninsured and without healthcare treatment. The relationship between employment and healthcare has been a huge barrier with getting out of the death spiral, because the nature of employment has changed globally and benefits are decreasing more and more each day for employees. Jobs are no longer a safety net for getting healthcare coverage, because of rises in health insurance costs. Since fewer people are able to stay with the same employer for many years, jobs are no longer providing health benefits, they are often faced with having to pay for a more expensive insurance plan or are not eligible for an affordable health arrangement.
Job loss, homes in foreclosure, and the people who still have jobs would be living from paycheck to paycheck. If manufacturing were to halt nationwide, nearly everyone would feel the financial strain, even the ones who do not feel it now. Manufacturing companies stores would have a decrease in the products they supply, and the products still available would be much more expensive. Closing the borders to international trade will cause financial strain and job losses in the manufacturing sector. If the... ... middle of paper ... ...arriers America would see an increase in profit by another fifty percent (United “Economy”).
And because during recession it is difficult for one to find a new job, those out of employment often stay there sometimes for as long as the recession lasts. As a result most people plunge in to hopelessness, in fact studies show a direct correlation between recessions, unemployment and suicide particularly in adult males as well as an increase in mortality rate in males who have been laid off. This can be attributed to by the psychological effects that come with recession More often than not, stocks drop during recession making it difficult to sell goods and services because consumers experience a decrease in purchasing power. Investments during recession suffer because of the decline in stock prices. Most investors fear economic loss and as a result do not invest.
Once the economy stops growing than we are in trouble for our economy and a possible repeat of the recessions, that has plague our country from the past. When consumer demand for goods and services drops, business revenues decline, and eventually companies have to lay off workers to maintain profit margins. Often there isn 't enough production to keep the workers busy. Over a period of time, the economy experiences many ups and downs this causes
The economic crisis that has occurred in the recent years and that has consistently worsened over past year or so has led to many other problems, one of which is the foreclosure crisis. More and more people are losing their homes due to job loss or simply poor financial choices. The number of unemployed and homeless is increasing at an alarming rate. Many feel like there is nothing that can be done to remedy the situation, especially when the enormous debt that the United States has already accumulated is considered. There is not just one simple step that can be taken to fix this serious problem, but there are a series of things that the government and financial agencies can do to help gradually improve the situation, including more selective loan dispersal, lowering interest rates, and creating more jobs.
Nowadays healthcare costs can be very high, and deductibles and co-pays are constantly increasing. Numerous Americans are losing their healthcare coverage everyday because of income loss, due to our struggling economy. While at the same time, many Americans are finding much difficulty within their own coverage, which then causes a great deal of doubt and aggravation to the families involved. Combine these problems with the numerous errors and flaws already in our healthcare system; it’s clear that we, as a country, need an immediate plan to improve things for the quality of life for Americans. Almost one-fourth of the U.S population lacks any variety of healthcare insurance.
Social isolation has to do with when older people retire, thus cutting off an important source of social activity. Declining health also increases isolation by making it hard to get around. Death of friends, neighbors, family members, and spouses also contribute to this issue and consequently make a new one, a higher risk of death. Months after a spouse dies, the partner is at a higher risk of death due to depression henceforth leading to suicide. Retirement is a big part of aging which many younger people do not think about.
As one can see, changes in the government and economy have proven to have negative and positive outcomes. People are losing their jobs, homes, and sometimes families because they just cannot provide for their loved ones like they could at one point. Right now foreclosures are a huge problem for the United States. Economic downturn, balloon payments, high payments, speculation, changes in government, and a poor farm economy have been some popular reasons why the foreclosure rate is on the rise. Economic downturn almost seems like an inevitable problem; however, I feel it can be helped.