Economy growing but recovery could be at risk

Discussion in 'News / Current Events' started by KenH, Oct 29, 2009.

  1. KenH

    KenH
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    Nice to see the statistics show an uptick. We'll see if it helps eventually with jobs and whether it is sustainable.


    Economy growing but recovery could be at risk

    By JEANNINE AVERSA, AP Economics Writer

    WASHINGTON – Fueled by government stimulus, the economy grew last quarter for the first time in more than a year. The question now is, can the recovery last?

    Federal support for spending on cars and homes drove the economy up 3.5 percent from July through September. But the government aid — from tax credits for home buyers to rebates for auto purchases — is only temporary. Consumer spending, which normally drives recoveries, is likely to weaken without it.

    If shoppers retrench in the face of rising joblessness and tight credit, the fragile recovery could tip back into recession.

    For the Obama administration, the positive report on economic growth is a delicate one: It wants to take credit for ending the recession. On the other hand, it needs to acknowledge that rising joblessness continues to cause pain throughout the country.

    Millions of Americans have yet to feel a real-world benefit from the recovery in the form of job creation or an easier time getting a loan. Even those with jobs are reluctant to spend. The values of their homes and 401(k)s remain shrunken.

    President Barack Obama called the report "welcome news" in remarks prepared for a small-business group but acknowledged that "we have a long way to go to fully restore our economy" and recover from the deepest business slump since the 1930s-era Great Depression.

    - rest at http://news.yahoo.com/s/ap/20091029...HNlYwN5bl90b3Bfc3RvcnkEc2xrA2Vjb25vbXlncm93aQ--
     
  2. donnA

    donnA
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    They keep saying the economy is recovering, but we don't see it, gas continues to rise, $0.30 in a week, food continues to rise, I see it going up each week i go shopping, and there are necessities we can no longer afford, they keep going up. Jobs are getting harder and harder to find, there just aren't any as complaines and places of business have to close down, even my husband will be layed off tomorrow in a place thats never layed off. So when do people who aren't rich, who can't invest in wall st going to see the economy get better. Because so far it's still down hill here.
    prices climbing as rapidly as ever, fewer and fewer jobs, more and mor eunemployed, no recovering economy in the real world thats for sure.
     
    #2 donnA, Oct 29, 2009
    Last edited by a moderator: Oct 29, 2009
  3. targus

    targus
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    Is the govenrment borrowing money to dump into the economy really growth?
     
  4. webdog

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    ...not even borrowing it, they are just printing more of it. The economy will collapse entirely in the next few years. We are seeing the makings of the Day of the Lord right before our very eyes. Scary and exciting all at the same time!
     
  5. carpro

    carpro
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    The coming Obama tax increases will slow the recovery , if they don't kill it entirely.
     

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