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Jessica Smith Honors American Current Event Economic Transformations = U.S. Trade Deficit Exceeds Projections  = The Commerce department reported that the nation’s trade deficit has grown and that the amount of imports has increased to the highest level in three and a half years, since the financial crisis in July 2008. American exports also grew slightly, setting records for petroleum, services and advance technology goods. Last year exports rose 14.5 percent, which keeps the U.S on track to meet President Obama’s goals of doubling exports in five years. It was also reported in a survey that Americans felt worse about their finances, with the index dropping to 72.5 from 75.0 in one month. In general, consumers reported to be worried about their incomes, but optimistic about job prospects. The unemployment rate has dropped to a three-year low of 8.3 percent. Richard T. Curtin, the director of the survey, stated that those results make sense. He believes that they indicate that while better circumstances are finally in sight, consumers are finding their difficulties to be more of a burden, and are therefore not as optimistic about them. All of the reports in the article hint towards a rising economy. The outlook for American imports and exports, job prospects, and personal finances is far better than the situation in recent years. The suffering economy of the past few years can be attributed to what is oftentimes referred to as the Great Recession. The National Bureau of Economic Research declared that the U.S entered a recession starting in December 2007. The deterioration in the labor market during 2008 caused them to announce the recession. Another big cause of the recession was the housing downturn which began in 2006. Risky loans were evident, and soon after, oil and food prices increased. After the fall of the Lehman brothers in 2008, panic over the banking market ensued. Investment and commercial banks suffered huge losses and some were reaching bankruptcy. International trade plummeted while unemployment reached very high numbers. The Federal Reserve, Treasury, and Securities and Exchange Commission attempted to make changes to eliminate the crisis. A $50 billion program was put in place to insure the investments and attempts were made to allow financial groups to share funds. Although it was determined that the recession ended in July 2009, a 2011 poll found that more than half of the American population still believe that the U.S is suffering through a recession. This relates to Richard T. Curtin’s findings in his survey. The U.S population is less optimistic about their prospects in light of the economic downturn. This is most likely due to the lingering problems that are results of the aftermath of the recession, such as fluctuating gas prices, high rates of unemployment, high food prices, inflation, and the decline in home values. Despite these problems and the evident lack of optimism towards the situation, the reports in the article show that the United States is moving towards a better financial situation at a higher rate than expected. The statistics and survey results provided reflect our current economic status. The consumer survey and trading findings are applicable to demonstrating the current economic transformations. We can see the growth that the U.S has made in recent years as they have grown out of the recession. It also allows us to compare the standings of finances and trade to previous economic ruts. Namely, the Great Depression, as many people compared the Great Recession to the vast economic downturn of the 1930s. These comparisons raise questions as to why the American population has such drastic thoughts on the current economic situation. Generally speaking, the Great Recession was not nearly as bad as the Great Depression, yet Americans are still making these claims and are quite pessimistic towards the American economy, despite its obvious growth in recent months. A reason for this may be that the Americans want to see an exaggerated growth in order to accept that the country is out of the recession. Clear and evident proof of a developing economy through both statistics and physical evidence would convince the Americans that there is no longer a recession. We have the statistics to prove it, as shown in the article, but physical evidence such as lower gas prices, decline in unemployment, and a prosperous housing market, would be certain proof that America’s economy is finally on the rise. Questions: Works Cited: Isidore, Chris. "It's official: U.S. in a recession since December 2007 - Dec. 1, 2008." //CNNMoney - Business, financial and personal finance news//. N.p., n.d. Web. 22 Feb. 2012. . "Late-2000s recession - Wikipedia, the free encyclopedia." //Wikipedia, the free encyclopedia//. N.p., n.d. Web. 22 Feb. 2012. . REUTERS. "U.S. Trade Deficit Expands - NYTimes.com." //The New York Times - Breaking News, World News & Multimedia//. N.p., n.d. Web. 22 Feb. 2012. .
 * 1) If the trade deficit has increased far more than expected, what does that imply for U.S commerce in the next decade?
 * 2) <span style="font-family: 'Times New Roman','serif'; font-size: 16px;">Since many made the comparisons, was the Great Recession really as bad or even comparable to the Great Depression?
 * 3) <span style="font-family: 'Times New Roman','serif'; font-size: 16px;">Is the projected economic growth for the United States applicable worldwide?
 * 4) <span style="font-family: 'Times New Roman','serif'; font-size: 16px;">At what time will the American population be satisfied with the economy? How much does the economic situation need to improve so that we will not consider ourselves in a recession anymore?
 * 5) <span style="font-family: 'Times New Roman','serif'; font-size: 16px;">President Obama’s goal for the economy seems rather ambitious. Is it achievable? Will the U.S reach that goal in the next four years?