Is the economy in the USA prosperous?

Question

People say the US economy is booming, but is it prosperous. Are more homes being sold? Are more Americans enjoying vacations abroad? Are individual savings on the rise? Do state and local governments have revenue surpluses due to increased employment? Is the price of imports stable?
Do tax cuts to the upper income levels benefit the national economy or the global economy? What benefits our economy more: tax cuts aimed at increasing investment revenues, or tax cuts aimed at increasing production labor within our borders?

More homes are being sold? Have you been in a coma for 3 years? Homes sales have been in decline nationwide for the last 2 years. Homes builders and mortgage companies are facing bankruptcy.

Answer 1

The USA is "No. 1" in nothing but weaponry, consumer spending, debt, and delusion.
http://www.citypages.com/databank/26/1264/article12985.asp

Answer 2

Judging by most of the answer you got, the first person hit the nail on the head. Delusion seems to be the order of the day in America.
One person thinks personal saving are up because she's getting more interest on her savings account. That seems to be the problem with most people, they don't see beyond their own circumstance.
The entire housing industry is on the brink of collapse in the USA. Federal tax revenue are on the rise because of increased global investments. Local tax agencies, state and city, are struggling to make ends meet because employment is not increasing. People state the unemployment rate is low, but that only accounts for people already in the job market.
The US economy must generate 120,000 new jobs per month to accommodate those people entering the job market for the first time. In July only 95,000 new jobs were created. That is a sign of recession. The new jobs figure has been on the low sign for over 2 years.
Most people think the economy is doing great because their IRAs and investments are doing well. But are these same people putting more, less, or the same amount of money aside for investments? For the most part, people are saving less, which is another indication of a poor economy.

Answer 3

Some people at the top of the income scale are doing well in this economy but most Americans are not benefiting. Household debt is climbing. Also, the government is borrowing and American taxpayers will have to pay that debt in the future. Most Americans live paycheck to paycheck and now many are seeing their homes lose value. Much of this economy depends on financially overstretched consumers.

When some tout the strong economy, they don’t take into account that most of the benefits of this strong economy are going to the top 5% and especially to the top 1% of households. The bottom 90%, i.e., most Americans, have not experienced the economic gains.

The next few months will give a better picture of the overall economic health. Job growth was less than expected last month and labor force participation rates are down.

Answer 4

To answer your question in a simple manner Yes.

Are homes still being sold and built, yes. Its only a fraction of the mortgage companies that sold subprime mortgages that are having issues.

Are more Americans enjoying vacations abroad? Why do Americans have to go outside the USA to enjoy a vacation? I just went to a lake Norris in TN and had a wonderful and relaxing time. No telephone or internet. We have so much here in the USA to enjoy, so why do you feel we have to go overseas to take a vacation? A bad day at home is still better than a good day at the office.

Do federal, state and local governments have revenue surpluses? No. Federal, state and local governments are receiving record tax revenues right now. Problem is we are having record spending right now. Your beloved Nancy Pelosi and Harry Reid just placed $326 Billion of PORK BARREL spending into their districts. This is just an example of how tax revenue is being wasted when we have bridges in the USA falling down because they need to be replaced.

Price of imports are increasing and the USA is selling more overseas right now due to a weaker dollar. That is a good thing for the USA.

Do tax cuts in general benefit the economy worldwide? The upper income pay 95% of all USA taxes. A poor / middle income person doesnt' pay squat when you compare both the percentage or dollars. A person with more money in their pocket will spend more regardless of their social status (poor, middle, or upper income). So yes tax cuts benefit the economy locally, nationally, and globally. It all depends on where the person spends the cash.

Answer 5

To the government of the US, it is booming, but to the companies and people there, it is not really prosperous. It does have more homes sold, as mid-size city are booming, and lots of people are immigrating there. Americans does enjoy vacations, as I saw abut 500% increase of tourists (an with an American accent) coming to my contry. Individual savings are on the rise, as more people put there money in the can't remember call what government thing.

Answer 6

Oh dear, it reads "outlook not so good".

We are being fed the same stories about how our economy is doing so well in Australia, but the fact is it has been really good for a few people and not much has changed for the rest. The record number of luxury car sales and $20 million properties in Australia is a simple sign of the inequity.
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Answer 7

Uhhh, as of June, 2011, it will be two years since Ob, Nancy, Harry and the Dem congress and their econ programs ended President Cheney's Great Recession. It's good to stay current.

Answer 8

Here is a story which explains our current situation.

Our leaders always had a priviledge in the past, to create a dellusion of prosperity by simply printing more paper money and sending it to the rest of the world. Another word, pass on our bad debts to the rest of the world and they would never even know it. Simply because no other currency was considered to be safer, securer, and believable than the US Dollar.

So whenever our leadership felt the need to create this phoney illusion about our economy, especially when the natives were getting a little restless, and the politicians needed to get re-elected, etc., a "little correction" was made by simply printing more paper and floating it on the International market. For most part it would go unnoticed.

But it never went unnoticed by our friends in Europe. Over the years they watched us and grew more and more envious of our currency. Some countries tried to acquire this priviledge too, but the European economies were considered to be 2nd rate to America then. It showed in the way their individual currencies held up against the US dollar. Even uniting the European currencies became a disaster at first. Many predicted that this union would fall very soon. The EURO as a currency was far below the initial expectations. It kept falling against the mighty Dollar. Most people still prefered to trade in the US Dollar, especially the OPEC countries. They are the ones who added strength to our mighty Dollar actually.

So untill just recently all was well and we went to bed every night taking comfort in the fact that we were truely invincible. Not realizing that in fact we too were getting fatter and lazier, like the envious Europeans had been before us, each day, on borrowed time. We had the security of our US Dollar, after all.

Well this fairy tale has come to an end. All was well untill we began to piss people off around the world, while our so-called European allies watched on the sidelines. We got bushwhacked by Iran, who decided that they will accept payment for their oil only in the EURO. Suddenly the mightly Dollar began to lose its polish. The Euro became stronger and stronger and stronger. This is the opportunity which the envious Europeans had been waiting for. They are the experts at this. In fact, they went out of their way to encourage countries like Iran to dump the US Dollar, so that everyone switches to trade only in the EURO. And we know historically the Europeans are famous for selling us out. Especially the French. They wrote the book on double dealing. The French are not bothered about the true strength of the EURO so much, which should be their real goal. They rather see the EURO getting stronger and stronger, simply to acquire the priviledge to print this currency to create a dellusion for their fatter and lazier people too. Just like us Americans have been doing all these years.

So what has this go to do with your question: Simply this, it does not matter what the real answer is, the economy is good or bad, thats not important. What is important is to understand that all these years it has been running on borrowed time. We never saw it because this is what we wanted to belive and our politicians simply delivered what we wanted to see, feel and live. They had the tool to buy us our luxurious dreams, simply by printing more currency. Now that priviledge is coming to an end.

We are at the cross roads as a Nation when it comes to making a decision about our economy. We have enjoyed the luxury of a dellusionary lifestyle. Unfortunately, this process has created a generation of "me, me and more me" rather than "we or us." Our leaders have given into our pressures by letting us live our desires even if it meant by borrowing from our future. We can go on pretending that all is well and that we will always be the leaders of this world no matter what. Or we can buckle down and go back to living the life which made America the great nation that it once was.

Our parents worked hard for this good life for thier children, but we the children have reaped this harvest beyond reason now. Especially over the recent years. The land needs a bit of rest. It is time to stop, and take stock of the situation. The party is coming to an end, whether we like it or not.

Housing markets, Taxes, Sales, Medical insurance, mortgage failures, unemployment, outsourcing, corporate greed, Global warmings, and the George W. Bushes of this world, are all products of our own making. We have the choice to do what is right. Time is running out.

And finally, your question about theUS econonmy? The answer is simply this, the economy sucks! Which should not be the case, despite this being a "borrowed time" economy. Every war-time economy has always had a positive growth, except this one. Should we blame it on Bush? No, I say that we blame it on ourselves as a people who became fat and lazy over the years. We should also blame it on our so-called European friends who directly or indirectly nudged the little bastards like Iran and Venenzuella, and North Korea, and the Taleban who managed to get under skin, and are now forcing this "time-out."

Before these two-timing Europeans dive in for the spoils of our hard work, I say we thank our lucky stars, that we still have the priviledge of a "time-out" which can allow us to stop, re-think of a positive strategy and come out kicking some serious butt and become the great nation which we once were.

The buck stops at our door step!

Answer 9

DCC has it about right. This country is on the brink of economic ruin. For example $50 billion in mortgages are due to be readjusted upward between now and the end of the year according to Government statistics. It is expected that very many perhaps as much as 1/3 of mortgages holder will be forced out.

Answer 10

This is a unique time in US history. Usually as business and the stock market do well, tha American people do also. But due ot the outsourcing, hiring illegals, and obnoxious corporate greed;companies aredoing well while we get the shaft.
F'ck Exxon, Walmart, and the Bush Administration.

Answer 11

No, it is only good for the millionaires and billionaires. It is being portrayed as 'a good economy' so it looks like globalization is a good thing for Americans. We know it is the opposite.