September 11, 2001 was a life changing event for America. 19 Islamic man associated with al-Qaeda hijacked airplanes and crashed them into the World Trade Centers, the Pentagon, and a field in Pennsylvania. There was a major death and destruction triggering the United States to get into gear and try to combat terrorism.
Over 3,000 people were killed in the attacks on the US including 400 policemen and firefighters. (Staff, 2010)September 11, 2001 is considered the deadliest day in history for New York firefighters.
At 8:46 a.m. the first plane hit the North Tower of the World Trade Centers and at 9:02 a.m. the second plane flew into the South Tower. The other plane that crashed into the pentagon at 9:36 caused the collapse of part of the building and killed 125 military personnel and everyone aboard the plane. (Staff, 2010)The attackers were mostly Islamic terrorists that were from Saudi Arabia and other Arab nations. It was reported that Osama bin Laden was considered the mastermind behind the attacks.
October 7, 2001 the United States engaged in a war to bring down the Taliban, who were invaded and bombed by the U.S. On May 2, 2011 Osama bin Laden was tracked down in Pakistan and was killed.
Finally in June 2011 Barack Obama started withdrawing troops from overseas and it is reported that we should be totally out of there by 2014. (Staff, 2010)Also, with the election of Obama there came economic bailouts for failing financial institutions and auto companies which brought jobs and new life to America, but with the changes and the role the government is playing some people are dissatisfied with it. (Welch, 2013)
September 11, 2001 has changed America’s economy in many ways. There was a major change from manufacturing to services and there was a shift from small businesses to larger ones.
As our textbook talks about the different industries and sectors manufacturing was the largest sector until recently services became number one and has taken over.
When economists were asked what were the most significant changes caused by 9/11 Niso Abuaf, professor of finance at Pace University said “The great disappointment in real wage growth and European integration.” Terry Connelly, dean emeritus at Golden Gate University said, “The economic rise in China.” (New, 2011)
The housing market has had ups and downs along the way due to the 9/11 attacks and still has a long way to go to fully recover from this economic hardship. The median home price is now at $173,000 and home owners are at the lowest level in 13 years at 65.9%. (Miley, 2011)
Since 2001 the United States economy has lost 400,000 jobs and the rise in poverty went from 11.5% to 14.3% as of 2009. (New, 2011)The Daily Financial, among other people, are calling this “The weakest decade since The Great Depression.”
Like I mentioned before there has been a huge shift from smaller business to larger ones. The percentage of drops for small businesses have dropped more than the percentage...