U.S. Economy On The Mend?

24 January 2012 - Which Way to Pay

U.S. Economy On The Mend?

The U.S. has had little to celebrate recently as the economy suffers more and more drawbacks. The main kick in the teeth has been the unemployment rates reaching record highs. But in trying to stay optimistic, is the U.S. finally on the road to recovery? Thanks to the depressed state of the economy, people have not been buying homes with many people are obviously put off because of poor job prospects and rising prices. But there is recent evidence that suggests the housing problems are easing.  If the economy improves then home purchasing will increase, leading to more construction which in turn strengthens the economy and so on.  For now home sales are up and business confidence is rising and so the chance for improvement could be a real possibility as significant progress continues to be made in terms of government debt. 

Unfortunately major risks remain mainly in the form of the European debt crisis which could potentially have dire consequences for the global economy. With Obama’s plans to use tonight’s Sate of the Union address to lay out a “blueprint for an economy that’s built to last,” we await to hear his vision for the nation’s economy.