How is the American Economy?
Is the economy really recovering?
The Federal Reserve Board Chairman Ben Bernanke, in a speech make Friday in Jackson Hole, Wyo., that the economy will expand, but more slowly than he and most official s had hoped. What does that mean? Are we recovering or not? If not, what is the Federal Reserve Board doing so the economy will recover?
The gross domestic product is rising, that doesn't mean our economy is doing better. Over and over again they tell us we're on the road to recovery. There is nothing in the data reports to support that type of optimism. We must have faster growth to bring down unemployment. If the unemployment continues rise for the rest of this year it won't matter if the GDP numbers are negative or positive. Something has to be done.
The policymakers continue to be in denial. Why won't our officials tell us the truth? They are avoiding responsibility. They need more stimulus money but there is no way this administration could get another one through the Senate. They could put the onus on the Republicans, but the people wouldn't believe them.
There are a number of options that the Federal Reserve Board might due. Keep short-term rates low by buying more long-term and private debt. Make is attractive for businesses to not sit on their cash by raising its medium-term target for inflation. Give businesses more incentives to hirer more employees, by cutting Federal Taxes and the unemployment rate contributions. Get the state involved, by them cutting some of their taxes on businesses. Get the banks to help out the homeowners more. The banks don't want have a large amount of home unoccupied in their portfolios. All sizes must start to get creative to help solve our economy. Will any of these help? The answer is nobody knows for sure, but it's would be better to do something than nothing at all.
We can no longer keep waiting for a recovery to happen on its' own. Using even unconventional risks would be better than to keep lying to the people. We are in a stagnation of high unemployment and little or no GDP growth. It's time to change our thinking and make our recovery NOW!
About the Author
<p>Shawn has been writing articles online for nearly 4 years now. Not only does this author specialize in diet, fitness, recipes and weight loss, you can also check out the latest website on Triple Bunk Beds which reviews and lists the best Toddler Bunk Beds for any family.</p>
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