what is the current state of the US economy?

Answer 1

Very good...

Answer 2

Horrible!!!! Growing trade gap, social security problems.

By 2020 there will be 75 million baby boomers on Social Security. If each one only draws an average of $1,000 a month ( I got my statement yesterday and it says that if social security is still there I will get $1,800 a month) then that will be 75 Billion per month. To put that in perspective that will cost our tax payers the equivelant of 1 War in Iraq or 2 Hurricane Katrinas per MONTH.

Inflation is going up. You lose half of your purchasing power every 10 years.

Millions of people have got Adjustable rate mortgages so they can by 400,000$ +++ houses that they cannot afford. The FED has raised rates the last 18 times they have met.

50% of people in america didn't save a dime last year. The average family spends $5,000 more than it makes every year.

Im not going to get political and point fingers, but we have to get rid of socialized programs or we are going to end up like Japan who's baby boomers retired in the early 90's. Remember when every international business student was learning japanese? What happened? They don't have enough people to support their elderly. Now in Japan they have 100-year mortgages cause noone can afford housing otherwise.

There are 2 current economic theories and they both have ups- and - downs

Trickle down economics (supply side) has a goal to create more jobs for people by encouraging upper class to invest their money. This does work for that purpose, but it raises the price of assets such as real estate.

The other is the communist theory that the government should wipe all of our a****. This has its own problems as well

anyways..... I could talk for hours about this

Answer 3

Boom before the bust. Now that the Democrats are in power taxes will be increased which will cut off growth.

My personal plan is to quit working as soon as taxes are raised.