US economy in trouble


Bailing out banks in the USA, cartoon

The Obama administration’s 2011 budget projects massive government deficits for the next decade, fueled by gargantuan military spending and by the economic crisis of US and world capitalism. The national debt is projected to more than double over the coming decade: here.

The US economy grew at an annualized rate of 5.7 percent in the fourth quarter of 2009, prompting claims that the downturn is abetting. But such triumphalism quickly gave way to concern, as more voices added warnings about the condition of the US economy: here.

A report from the special inspector general for the US bank bailout states that the fundamental problems in the financial system have yet to be addressed: here.

A new debt crisis stalks capitalism: here.

2 thoughts on “US economy in trouble

  1. Pingback: Barbara Ehrenreich about ‘positive thinking’ | Dear Kitty. Some blog

  2. Pingback: Economic crisis, workers’ resistance | Dear Kitty. Some blog

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.