Osama Bin Laden impacted America’s perception forever and has influenced the United States’ economy in many ways. After one terrible day in mid September, America’s future was changed and our economy was altered. Though some speculate that Osama Bin Laden’s strike weakened our economy beyond the point of fast recovery, some believe that the only impact inflicted was minor “scrapes and bruises”. How serious was the U.S.’s economy impacted after September 11th?

“The United States economy has proven to be very resilient.” Despite damage exceeding $120 billion and an overwhelming deal of anxiety, almost two years after the attacks the United States is still in the midst of a “slow” economic recovery. Consumer confidence is still increasing at a slow rate and household spending still lacks in comparison to the days before the attacks.

But how long will it take for the United States to fully recover, and will the recession turn into a depression? Many economists believe that the recession is going to be “shallow and short-lived”. Predictions and estimates vary, but most economists believe with optimism that America will make a full recovery. War can have a huge impact on the consumer, and can effect the way consumers manage there real income. Therefore, when a nation faces rough times it is expected that that nation will undergo a variety of ups and downs.

Monetary and fiscal policy also plays a crucial role in the United State’s recovery. Banks around the world cut interest rates and in “just three days after the attacks, Congress cleared $40 billion emergency spending package to help in relief”. In just several days after the attacks recovery was already noticeable and consumer’s confidence was already beginning to grow.

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