Insomnia (insomnia) wrote,
Insomnia
insomnia

U.S. economy hits wall with squelching sound, slides down slowly.

The number of new jobs is under half of what was predicted and considerably less than the approximately 140,000 new jobs needed per month just to keep up with population growth.

Meanwhile, The Federal Reserve has started raising interest rates again due to fears of inflation, thereby increasing the cost of loans for businesses and the cost to consumers. This won't help new jobs in the future any...

Basically, the government has spent four years throwing every economic incentive in the book at this economy -- as well as huge, poorly targeted tax cuts -- and this is what we've got... a stagnant economy, fears of rising inflation, and a huge debt. Something tells me that Bush might not get as much of an economic bounce as he might have thought.
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