Admission by the US President makes the US economic outlook very much uncertain? Nope, everybody has been saying that they (US Citizens themselves) have been feeling and seeing a recession right in their backyards. The Sub Prime economic trouble’s effects have gone around the world and Americans are bearing the brunt of the results. Economic slowdown which has been forecast and seen by many analysts have long since taken hold and the admission of the US president couldn’t make it any worse for it already is.
The White House might be the last to admit that there is indeed great uncertainty regarding the future of the United States (ask the fed for they have had to decrease interest rates by how many points just to allow the white house the ability to say the country is doing good). But that might not be enough and the country needs to wake up from the many mistakes and economic blunders that has left them not only digging into their reserves but irking investors from other developed nations to slowly pull out shares due to foreseen economic uncertainty. They should have cut their losses when they saw the problems with Iraq, which by the way is still in shambles which could have spared many a lives (both Americans and Iraqis). The battle may be just beginning on the mainland and this recession would surely have global effects even on the battle fields of Iraq and the many other areas the US has to send troops and materials to for the machine of war to function which is eating up billions of much needed US dollars that could have been spent on Americans themselves.
[tags]American Economy, Recession, US Economic Woes[/tags]
Originally posted on February 10, 2008 @ 6:14 am