It is a widely spreading belief that the U.S. economy is losing its edge. Even President Obama has feared that America is losing its economic edge to China and other competing economies. Our economy currently ranks as the seventh best economy in the world, quite a fall from the first place ranking we held a few short years ago. With all of the negative media constantly being pushed into the faces of citizens, it is not hard to see why this pessimistic view is so popular. This type of mindset may not be the most proper one to have, according to some. The U.S. is working hard on its research and development, education system reforms, and infrastructure reforms. President Obama and the rest of Washington D.C. are working hard to make to these reforms a reality. While it is true that our economy is recovering at an extremely slow pace from the recent recession, there is no reason to think that the economy as we have known it in the past is gone for good.
I liked the article as the author states exactly what I feel whenever someone laments over the recession. The U.S. economy is still the largest in the world. The only problem is that people lack the confidence to consume as compared to the past levels. Now that regulatory regulations in the financial sector have been implemented, it is only a matter of time before the economy is back in top form. Technology is booming and this may usher in a new dot com era. Consumer confidence will increase if the negative publicity about the economy stops.
ReplyDeleteEven though our economy is improving at a slow rate, at least it is improving, which should cause an optimistic feel for our US citizens. I believe we are focusing on the right factors in order for our economy to grow.
ReplyDeleteI agree with Karn and Josh. It seems the uphill battle for the US economy is over, and it is only upward trend from here.
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