In 2020 and 2021, the US economy faces big economic issues and challenges. Low economic activities due to covid-19 restrictions, US economy is shrinking and the difficulties of common men are rising.
Due to travel restrictions, the travel industry and tourism are facing difficulty because the travel industry is earning a lot of earnings and common people are directly connected to this industry.
Now we discuss the top major issues in today’s US economy.
Covid restriction badly hurt the US economy. Due to covid restrictions, peoples not done their jobs properly and not earn money so peoples face joblessness and face difficulties.
Due to restrictions the businesses are badly hurt and in the loss. So when businesses do not earn money they are not able to pay taxes to the government and are not capable to pay their expenses.
As a result, today’s many businesses are shut down and many businesses face severe crises and also the GDP is declining.
Due to covid restrictions, peoples are bound in their homes and they are not able to work in factories and other job places. So large no of peoples are faces joblessness.
In joblessness, the government is also facing crises and difficulties.
Due to covid restrictions, government issues and challenges are also rising. Due to the shutdown of the many businesses the government earnings and taxes are badly hurt.
In this case, the government earnings are down and expenses are rising. In this situation, the government is raising their earnings and the government is raising prices of everyday commodities.
So in high prices, peoples face big problems due to rising prices day by day.
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