Rachael Davis
@Rachael.Davis · Posted 31 Aug. 2021

First of all, it must know that what is IDA and how it makes an impact on the US economy? Individual Development Account is known as IDA. IDA programs for the persons such as ORR eligible populations and mainly refugees who don’t have the idea regarding investment or how to save their money. This Individual Development Account program helps ORR eligible people to become financially independent and helps refugees to understand what the valuation of money and asset also how can they save their money by investing.

Through this IDA program, refugees can save one of four valuable assets:

• Home purchase

• Car

• Their post-secondary education or training program

• To start up a new business or support a business.

This IDA program mainly serves ORR eligible people and refugees who have been staying not more than five years in the United State. If refugees want to save for cars for transportation to their workplace or school they should have been staying in the united state for three years or less than that period when they are enrolling their name.

To enrol their name in that IDA program, all participants must have followed or fulfil some of the criteria and be eligible for that program.

          • Must have the paying job

          • Participants must not have more than the asset of $10000, excluding one home and one car.

• Earn surely less than 200 percent of the whole federal level of poverty.

This Individual Development Account training program mainly provides respective participants with:

• Asset and worth-specific training (such as first-time home buying training, first-time car buying training, start-up planning, and business support training.)

• Financial literacy-based training program (such as banking, credit history, investing, savings, writing checks)

In the United States, this Individual Development Account (IDA) program process is a part of social development technique or strategy to improve the economic standard by increasing the participation of low-income populations in Unites states and ensure long-term financial and economical security. A survey data collected by completing different kinds of research on IDA program and comes at the point of the effect of IDA program is not just bounded on the economy of United States also it can cover the area of other sectors such as economic, psychological, social and as well as civil. In future research on that particular program can inform its effects of specific characteristics, like the applicability of this IDA program worldwide, financial education, and many more.

Frank Lucas
@Frank.Lucas · Posted 31 Aug. 2021

Hurricane ida is a storm. It destroys many things which come in the way it destroys. Hurricane ida is so big that it has already in category 4 in the list of storm categories. The big question is where is hurricane ida now?

So hurricane ida does affect the US economy but the impact is very less. The US economy is considered as a number one economy in the world and the US economy itself contributes 24.08% of the world GDP. So they or the US are in the position that they may contribute lots of money in development-related work on the other countries. As we all know that the US has already developed country and the development-related work in the US is very little. The US economy is an open economy; the economy is normally not controlled by the government and the US has that enough capability to track this storm by hurricane tracker and get the exact location. For this reason, I believe the US economy may have very little or less impact after this IDA hurricane. The current US president Joe Biden has already mentioned this hurricane ida as a life-threatening storm. This ida has destroys many places like:

1.      Many Buildings.

2.      Many Corporate Houses (architecture).

3.      Many Assets like cars and all.

The IDA is not like the previous storms that happened in the US in the last 5 years. We all knew about this kind of storm due to previous experiences. We also knew that the US can handle this kind of storm easily because they have that kind of infrastructure or rather we can say that they have that kind of advancement. Now coming back to the Economy, it was mentioned earlier that the US economy has that kind of capability that they can handle this kind of storm. The US economy is also funding many others countries if they have face any issue after that kind of Hurricane. I believe ida does affect the US economy because any disturbance that happened always leaves some kind of footprints of it. So yes in the Hurricane ida case also, the same thing happened, and some kind of economy has been affected.

Kelly Jackson
@Kelly.Jackson · Updated 31 Aug. 2021

A storm named hurricane ida can destroy whatever comes in its way. It is so big and disastrous already in category 4 in the storm category. So it is very common that it has to make a big impact on the US economy. The real situation is quite different than it is true that the US experience the hurricane ida storm but the impact or effect of this deadly storm is less in the US. US government has the great capability to handle and track to locate this hurricane ida by hurricane tracker and that help the US to save their property and life. The US economy is considered as a number one economy in the world and the US economy itself contributes 24.08% of the world GDP. So they or the US are in the position that they may contribute lots of money in development-related work on the other countries. As we all know that the US has already developed country and the development-related work in the US is very little.

The US economy is an open and developed economy. It is the reason that the US economy can survive in this onerous situation. In simple words, the US economy may have face very little impact on this Ida storm and come back with double strength. The current US president JoeBiden has already mentioned this ida as a life-threatening storm. This hurricane ida has destroys many places like:

    • Many Assets like cars and all are affected badly.

    • Many Corporate Houses (architecture).

    • Many Buildings and towers are affected.

Now coming back to the Economy, it was said that the US economy has enough capability to handle this kind of storm. The US economy is also funding many other countries so this kind of affects unable make any bad impact on the US economy.