How the economic recession has effected legislations for sustainable development in light of economic recovery?

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Comparing American and French responses to the crisis, we will highlights two different way to deal with sustainable development.
In the United States, the global recession has been in place since the housing bubble that spawned it broke. The U.S. economy has suffered major deficits including the loss of 2.6 million jobs in 2008, the most in any single year since World War II. In addition, manufacturing is at a 28-year low and even Obama's economists say unemployment could top 10 percent before the recession ends. Moreover, one in 10 homeowners are at risk of foreclosure and the dollar continues its slide in value. Clearly, the recovery of the economy quickly became the newly elected president Obama’s major priority (Obama-Biden, par. 1-2). In terms of the environment Obama had pledged prior support for renewable energy and in part as a mechanism for creating new jobs and removing America’s dependence on oil. President Obama continued to support the development of renewable ...

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the Obama plan appears very promising. It makes tax credits for wind, solar and other renewable energy sources fully refundable for the next two years. This is largely significant because prior tax credits were very short term and lead many companies to suffer do to a boom-bust cycle and never allowed them to take off. Further, banks have been reluctant to invest in green energy because of this same cycle. Paired with the extended tax credit plan is $6 billion to support loan guarantees expected to cover more than $60 billion in private loans to clean energy projects and to help thaw out frozen credit markets for these capital-intensive projects. With this kind of critical support in ...

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