Friday, April 2, 2010

U.S. Economy Still In Trouble

U.S. President Barack Obama

The U.S. commerce data released for the month of March 2010, reveals the economy is still in trouble, as companies continue to shed a massive number of jobs, home sales are down and national revenue is significantly lagging.

This has confounded the current U.S. Treasury Secretary, Timothy Geithner, but it should not have, as this site has maintained for many months, too much government spending is transpiring on initiatives that are not fruitful in reviving an economy. President Obama has made many changes to America that are not panning out, due to bad timing and overspending.

US treasury secretary Geithner says unemployment is 'terribly high'

Thursday 1 April 2010 16.59 BST - Geithner says Obama is hugely concerned about jobless rate - The treasury secretary Timothy Geithner warned today that US unemployment was "terribly high" and would remain "unacceptably high for a very long time".

The Obama administration was "very worried" about the jobless rate, Geithner said in an interview, which has soared to almost 10% in the wake of the worst economic downturn since the depression...