For President Barack Obama and the United States economy, “The problems are obvious. How to deal with them is not.” A year ago, economist forecast sizable budget deficits to offset the downward shift in private demands throughout the recession. At that point, once the economy stabilized, switch the national focus to deficit reduction and prevent interest rates from choking off the first steps of economic recovery. However, unexpectedly poor performance over the past year has forced the president and his economic team to face the country’s bleak economic outlook. The president’s budget stretches could ultimately prove to be a costly failure in the end. The American Government logically can only support a floundering economy as long as people believe the United States will make good on it’s agreements and not default (as may be the case with Greece in the EU). How much is too much for a country that seems to know no boundaries?
1 comment:
I do agree with the points in this article. I too feel that Obama is almost anti-business in some of his legislation as well. US firms will hire and continue to do business this year. Maybe we should start to listen more to CEOs as they have the true grip on the economy. Most firms are still unsure about this yeat which makes them forcing themselves to listen to Obama and his prosmises that help is on the way...still.
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