Current state of the US economy Essay Example | Topics and Well Written Essays - 500 words

Current state of the US economy - Essay Example The world always closely observes the political and economical spheres of the US. Undoubtedly, the waves in the US economy are reflected throughout the world economy. But the global recession which marked its beginning in December 2007 was a huge setback to their undisputed leadership in the world economy. US economy was deplorably affected by the global recession of 2008. The subprime mortgage crisis was the sole cause of this recession. A huge fall in housing related assets resulted in a global financial crisis. Oil and food prices went up like anything. This eventually went to the collapse of a number of financial enterprises like Lehman Brothers, Bear Stearns, Freddie Mac, Fannie Mae and AIG etc. Automobile industry was also badly struck. It was a period of scrambled economic activity and negative expansion in GDP. The aftermaths of the late 2000s recession brought about overwhelming downfall in almost all phases of the economy. Contraction of GDP began in the third quarter of 2008 and was contracting rapidly by early 2009. Capital investment declined to the lowest rate in 50 years. As a result, the US had to face political instability as well. Decline in consumer credit, real estate bubbles, personal bankruptcies etc put the US economy into turmoil during this period. The GDP decline was about 5.1%. The US government announced a $700 billion bank bailout and $787 billion fiscal stimulus package to tackle the situation. The US was also struck by the draining of capital investment to developing countries like India and China which were not deeply affected by this recession. Government measures could not yield many results initially, but the economy started to regain its stability gradually, though in a slow pace. A poll by Reuters says that more than 50% of the Americans think that US is still in recession (Reuters polls). But according to official data of Bureau of Labour Statistics, a modest recovery is taking

Individual 4 Criminal Justice Essay Example | Topics and Well Written Essays - 1000 words

Individual 4 Criminal Justice - Essay Example This report will deal with the economical issue associated with the decision. It will also address with any constitution issue related to it. Moreover it will discuss about the names in prison privatization and how they have impacted corrections. The Department of Corrections plays an important part in the criminal justice process. DOC is often the final stop. By the time a person is sent to prison to serve a sentence, he or she has had contact with at least four (and sometimes more) different agencies and public officials. The criminal justice process creates checks and balances to make sure the administration of justice is fair and equitable. The focus of Department of Correction is on the social well being of the society. Being able to increase the effectiveness of the department will give a definite change in crime and will increase public safety. The main question is how it makes an economic sense. In the survey of the study area as a whole, the most frequently mentioned anticipated effect of the prison is that it will be good for the local economy. The most frequently mentioned anticipated positive effects are that it will: Be good for the local economy/improve the standard of living, Increase population, Create employment opportunities (directly), and/or while building (indirectly). Economic development experts throughout the state consider correctional facilities to be positive contributors to local economies, providing good-paying jobs and benefits in communities where employment is scarce. When proposed prisons are on the table, local newspapers are filled with articles reporting grand claims for economic salvation and flyers flood into local coffee shops, general stores and mini-marts. The purported benefits are described by a California Department of Corrections official who states "Prisons not only stabilize a local economy but can in fact rejuvenate it. There are no seasonal fluctuations, it is a non-polluting industry, and in many circumstances it is virtually invisible... You've got people that are working there and spending their money there, so now these communities are able to have a Little League and all the kinds of activities that people want." [1]. As a result of such claims, the competition for prison "development projects" has become fierce and political. Constitutional Issues: The existence of constitutional rights for any individual is dependent upon mechanisms to uphold these rights and protect them from violation or denial. The Department of Corrections have supervisory and protective care, custody, and control of the inmates, buildings, grounds, property, and all other matters pertaining to the following facilities and programs for the imprisonment, correction, and rehabilitation of adult offenders. In establishing, operating, and utilizing these facilities, the department shall attempt, whenever possible, to avoid the placement of non-dangerous offenders who have potential for rehabilitation with repeat offenders or dangerous offenders. Medical, mental, and psychological problems shall be diagnosed and