Wednesday 12th of August 2020

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US economy fell in reverse, this was even not the case after World War

 Los Angeles, July 31:-- In the US, the economy has shrunk 32.09 percent in the second quarter of the current year due to corona infection. According to the Bureau of Economic Analysis, this is the record so far in the depressed state of the American economy. It is being said that such a bad situation did not happen even after the first and second world war.
 
At the time of the knocking of the corona infection, the American economy was in a bad state in view of GDP. As the second quarter began, millions of people lost their jobs, people's spending power was eroded, exports began to shrink, business came to a standstill, with the Central Bank and Congress backing the economy by trillions of dollars of economic aid. Tried to bring. Three trillion dollars were distributed under this item. Despite this, the situation worsened as the corona infection was not curbed and the lockdown continued.
 
 
  Today the situation is that 30 million people are unemployed. So far, they were living on unemployment allowance from the Central and State Governments, that too is on the verge of ending. The situation has been complicated by Republicans and Democrats not yet agreeing to this allowance of $ 600 a week. If the Democrats are trying to extend this financial support till January, then the Republicans are not agreeing to it. This unemployment has fallen on the low-income people of the society, who are basically African American and Latino.
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