Wednesday, July 20, 2011

US economy: Is it all over?

Well what I mean is that is the downslide over. US economy is the World's biggest economy in terms of fiscal capaicty as well as technology.  The country is reeling under stress thanks to wrong banking policies which resulted collapse of major banks.

The unemployment rate is very high and the employed are not confident if they will retain their jobs. Hence the expected consumer spending is not all bouyant. The biggest scare is of cuts in medicare and social security.
Whatever the plus side is it is not enough. More has to be done to bring back the Giant on its feet.

The White House has to point to an emerging strong economy for electoral purpose. Albeit people in US vote more on the basis of what will affect them and their family positively. They do not take unemployment rate or GDP into consideration while voting.

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