What is the future of the national economy?Are we still in recession and when can we regain the 8 million lost jobs since 2008?
The problem with our answers *which will vary* is that yours is a hypothetical question based on trends. However, this is a trend that is highly debatable:
1. Liberals say that the huge amount we just spent on the healing package is going to save families from going bankrupt.
2. Conservatives will say that it was a waste of money because no new jobs have been created, yet, Liberals will argue that the unemployment rate has lowered. And, still, Conservatives will counterargue saying that the numbers are based on different variables.
3. The Health Care package is no joke-it requires a LOT of money for millions of uninsured people, many of whom lead quite unhealthy lifestyles. Any person against the plan will say that this was a massively unfair kill of money. Others will say that it is fair that everybody gets coverage. Now, let's take a sample of population suffering high blood pressure in Mississippi- one of the US's most obese populations per capita: Would their medications, exercise plans, surgeries, and check ups hurt anyone's paychecks?- YES. They will *it is not me saying it. It is the fact that, well, they will*
So: The future of our national economy is quite uncertain as of today. There have been conversations with the Chinese government to buy off our debt, but I think that it is dangerous to swim on that lake being that North Korea is closer to the Chinese than we are. Our intelligence could be endangered if shared and I think I'd rather have the strangers right in my backyard and not in the backyard of the neighbor I don't quite know.
Find the answer to this, and politicians will be coming to your door. I think that this is the central issue that is facing the nation right now. Job recreation is going to be the slowest part of the economy to reemerge, so it might be a while until all of those jobs are recreated. Along with housing market gains, employment is one of the most difficult sectors to regenerate. I don't think we are as bad as we were when the recession first started, but I would say that we are still in a recession to a great extent. Consumer confidence is not that highly rated, and while there are some very good signs that the economy is headed on the correct path, I think it's premature to suggest that the economy is in full swing.
The recession is officially over already. A country is in a recession if its GDP has been falling for two consecutive quarters. This is no longer the case for the United States.
As to when the US will regain all those jobs, this is completely a matter of guesswork. Most of the projections I have read say that it should happen at some point next year. However, these economists didn't know that the recession was coming either, so it doesn't make a lot of sense to put too much faith in their ability to foresee the future.
I believe the question pertains to US economy.
The recession is already over. This means that growth in both GDP and employment is positive. There is no visible pressure on the economy which can again pull it down in near future. But this does not mean that the drop in GDP and employment that took place since 2007 has been recovered fully. The complete recovery to the levels of 2007 and crossing it, is likely to take two to four years. It is quite unlikely that we will witness completes recovery to pre-recession levels of GDP and Employment in just next 12 months or less.