The Economy and Recession

Rising unemployment, record home foreclosures, and credit card crunch all played a part in the current U.S. economic crisis. President Barack Obama hopes to revive the economy with his $787 billion economic stimulus package, which will create millions of new jobs, cut taxes for low- and middle-income Americans, and prioritize the education, health care, and energy sectors. Only time will tell if Obama's stimulus plan will be enough for a U.S. economic revival.