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Financial markets have eased, the economy is in recovery, and job losses are shrinking. Economic policy now has two
challenges: ensuring strong job growth and securing durable economic growth. These goals are intertwined. Millions
of Americans need to find jobs that will allow them to repay their large debts and avoid high foreclosures, credit card
defaults, and bankruptcies, which in turn will boost business investment and economic growth.
The U.S. economy has turned the corner
Seeded on Thu Dec 17, 2009 9:02 AM EST
Article Source: Center for American Progress- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (8)
Good news!
- 2 votes
#1 - Thu Dec 17, 2009 9:03 AM ESTI don't think anyone can say the economy has turned the corner until it creates jobs...
- 2 votes
So we see a 'blip' of economic growth due to billions being dumped into the economy by our fiscally irresponsible Congress (with promises of more) and we're to see this as a good sign? We've yet to pay the piper on all this paper we've been printing at historic levels.
It appears to me that the Fed has been doing everything it could to stave off deflation that once inflation takes off it's going to be next to impossible to reign it in. We're no where close to being around any corner....
- 1 vote
Turned a corner? I absolutely agree. It has turned a corner into a dead-end alley.
Millions of Americans need to find jobs that will allow them to repay their large debts
Until this happens everything else is meaningless and this is very far from happening. It will not happen in 2010, which means more of the same... more foreclosures, more write offs of credit card debt, more extensions of unemployment insurance. And remember, the government still owns GM and Chrysler and is operating them at a loss with no end in sight. So the economy may have turned a corner, but the road ahead will not be smooth sailing and the possibility of another crash is very real.
- 2 votes
#2 - Thu Dec 17, 2009 11:19 AM ESTArgue all you want but you can't dispute facts.
- 2 votes
#3 - Thu Dec 17, 2009 1:03 PM ESTYou mean the fact that we are $12 trillion in debt?
Or that fact that 6 million are still unemployed and probably more than 10 million underemployed?
Or that fact that the government owns what was once the most valuable company in America and is operating it at a substantial loss?
There may be a spot of good news like a ray of sunshine between thunderheads, but the storm is far from over.
- 2 votes
WASHINGTON (AP) - The number of newly laid off workers filing claims for unemployment benefits unexpectedly rose last week as the recovery of the nation's battered labor market proceeds in fits and starts.
The Labor Department said Thursday that the number of new jobless claims rose to 480,000 last week, up 7,000 from the previous week. That was a worse performance than the decline to 465,000 that economists had expected.
- 3 votes
The number of newly laid off workers filing claims for unemployment benefits unexpectedly rose last week
Yep... things are really looking up. Argue all you want, but you can't dispute facts. < /sarc>
- 2 votes
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