Sunday, February 7, 2010
Obama Optimistic on Growth
Even though a considerably large number of Americans are unhappy with the Results of the President's plans for the economy President Obama revealed his optimism on Sunday. In 2009 there was improvement in the job market with the unemployment rate 10 to 9.7 %. The Economy as a whole grew by almost 6 % in the fourth quarter of 2009. As we have all learned before we can look at the economy in two different ways , the long run and the short run. The way in which things are being taking care of will show results in the long run. Unemployment which is the biggest problem in my mind will not go back to its natural rate within the year. I do think that the economy continues to be run the way it is being run with the use of taxes to control inflation from getting to high the situation could completely turn around in the future bringing us into the upside of the business cycle.
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In addition to this, Obama is going to use his original plan of allowing for 47,000 loans to small businesses. By allowing for these loans, the economy would really benefit. There are many different ideas on how to help bring the economy back to life, but I feel that allowing for businesses to get more loans at a good rate will help investment and opening of businesses.
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