Is the current U.S. economy truly prosperous?

Question

Corporate earnings are climbing. This is very good news for stockholders. It's great news for CEOs who are earning record bonuses from increased earnings per share. It's good news for the IRS, who will collect more corporate taxes and capital gains tax from stock sales.
Amid all this increased profit, the personal incomes of average Americans is not increasing. Why? Most likely it's because the labor for all this profit making business is being supplied by foreign laborers. The U.S. trade deficit is a good indication of that fact.
So is this expanding U.S. economy a prosperous economy? Will it fund our community schools? Will it maintain our roads? Will it mow the grass in our city parks?
So what is the true measure of prosperity, the health of business or the health of the community?

Answer 1

Yeah Buddy!

Answer 2

Within the framework of how the system works on a global scale the answer is yes. However, I have always thought of the economy like a house of cards. It is not backed up by any real currency or tangible commodity. This occurred when we ended the gold standard. There are just too many ways in which the economy could fail literally overnight. This is also why constant corrections are required to keep it moving in a positive direction. As to personal wealth increasing, salaries are climbing for many and the standard of living does increase, but it is not keeping pace with the growth of corporate earnings to be sure. The trade deficit is a concern overall, but it is does not indicate that Americans are not working on the whole. The same with outsourcing. Many people site the dangers and growth of outsourcing, but they almost never factor in the counter effect of insourcing when making their criticisms. All in all Americans are very prosperous as a general rule, but the house of cards could crumble without much warning.

Answer 3

Both business and community must benefit equally from economic expansion. One cannot benefit at the expense of the other.
The current economic expansion is one sided in favor of business. The major danger in this is rising pressure from the middle class for wealth redistribution programs or socialism. This can clearly be seen today in the wide spread call for national healthcare.
Healthcare cost have increased with the economy, which has been at a faster rate than personal income. The result is healthcare is quickly out pacing the middle class's ability to pay the cost. We now face the possibility of the government funding another massive entitlement program, one that would dwarf the Social Security program.
The danger in business profiting and leaving the community behind is socialism.

Answer 4

You make a good point and the government say that if the economy is good, the community is prosperous, but that's not true. Companies are all over the world and they left the USA and the community with out jobs. So I say that for the community is bad and for the corporation is good. The true measure of prosperity always have been that if you have a job, then you could have a house, a car, food, your kids a good education, etc. So with out a job you have nothing. Things are changing and the American people are paying for it. But what really make me mad is when you see American citizens being pro illegal aliens, when this people are adding to the loosing of our jobs and the deterioration of our communities.

Answer 5

For some yes, for most no, absolutely not. This is my opinion only, our economy is one, maybe two steps away from collapse. Big business is very healthy, that does not translate to most people who work for that big business benefiting, they may even wake-up one day to find their job overseas. Manufacturing in this country on a large scale is basically gone. The backbone that built America, gone or going. Taxpayer dollars being used on illegal aliens in our country. China, our number one threat in so many ways, the worst being the amount of money we owe them and everything in America that reads Made in China. Our economy is like a scarecrow, there's something there, but it's not real. Let's not forget about the billions going down the tubes every month.

Answer 6

No, this current economy is not prosperous. It is built on high interest loans from foreign countries to pay off massive amounts of trade and foreign deficits. This administration and the previous government chose to spend frivolously to pay for their agendas of war and tax cuts without responsibly budgeting their decisions. The former Republican lead Congress allowed the administration to run amok with spending measures that seemed to require money that was not there currently, thinking that they would rob the future to pay it off. Instead they have allowed for massive debts to foreign markets which has applied too much strain on America's currency and international credit market.

As such, this administration has shown the American people that irresponsible credit spending is a proper way of life and should be practiced without regard for the future to maintain a false sense of consumer confidence. This has caused many Americans to accrue massive amounts of credit debt to keep the economy moving. Now mortgage companies are realizing how difficult it is going to be for the public to pay back these debts. Just as the international community will realize how difficult it is going to be for the American government to pay back its debts.

Answer 7

On a personal level, I am truly satisfied with the way the U.S. economy is. I invest with all these giant corporations that are making a lot of money and I get my share. I'm not a greedy person looking for billions. As far as the community, I have seen no park in my neighborhood uncut or road unpaved.

Answer 8

large budget deficit, 9 trillion national debt, inflation outpacing real median income, housing slump, auto slump and a trade deficit. GDP is the last three quarters have been below average.

college tuition, health care costs and energy costs have skyrocketed.

Answer 9

you have it backwards, of direction. in accordance to OBAMA, Obama's spending will certainly placed us right into a economic hollow so deep that we is easily not waiting to dig ourselves out. A learn of the super melancholy (GD), WW II, and its aftermath proves the Conservatives suited. inspite of war spending we've been unable to offer sufficient until we eradicated lots of FDRs controls. THAT allowed war production to "win" and brought about the economic growth. below Reagan's tax quotes government earnings DOUBLED. It became into Democrats' over-SPENDING that further lots to the debt. below Obama's very own projections, the debt point would be a minimum of 70% of GDP and maximum different aspects, even DEMOCRAT aspects assume it to bypass lots bigger. Germany, France, and Canada have debt ranges around sixty 5% of their GDP. Italy’s point is over a hundred%. At its worst, Japan’s point became into very almost 2 hundred%. All of those countries throw events celebrating their prosperity whilst they have 1 / 4 as good because of the fact the single we are in NOW. this is an particularly proved LIE that "deregulation" further the present disaster. The economic sectors are SO regulated they have surely no judgements to make - ever. each and every "selection" is purely flow-charted via bureaucratic regulations to reach at what would desire to be accomplished. it's time to bypass back to fundamentals. there is purely one element government can do to end the recession - provide up inflicting it. ALL government spending competes against the economic equipment. that's an iron regulation like gravity. government can not greater stimulate an economic equipment than you are able to boost an airplane's flight-ceiling by using including shipment. Tax cuts make experience. personschronic the economic equipment so "allowing them to keep" greater of their earnings is to chop back government's aggression against the economic equipment. "government" money of any form to every physique harm the economic equipment becasue they actually compete AGAIST productiveness. In each and every case in background, tax cuts have been accompanied by using boost. There has in no way been an exception. you're advertising a plan that quantity to this: i bypass to an auction with you, having your checkbook in my pocket. I bid against you for issues and as quickly as I win, wager how I pay? you're literally claiming that sensible human beings would be happy to have me try this. you're patently too articulate to be very, very stupid. consequently you're mendacity. that's that straightforward.

Answer 10

It is truly prosperous for those of us making six figures or more. That's how the neo-cons operate as they care little for the poor and the middle class wage earners.

Answer 11

it seems to depend on who you ask...

Republicans seem to think the health of business is the measure of prosperity...

while Democrats seem to measure it by the health of the community...

and this seems to be why both differ on the current quality of the economy... and more generally, how to fix it and what is wrong with it...

it's all about where are "your priorities"... in the profit line or in America's children (which is America's future)