Any predictions on the state of the US economy one year from today?
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Answer:
Much worse. There is nothing but debt-based consumption behind our money. When enough people stop paying that debt, the economy implodes. Companies no longer move product and begin lay-offs or simply close which causes more people to either default or stop spending which causes even more people lose their jobs and more businesses lay-off and close. This is collapse. The economy hasn't completely collapsed, by far.
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Other answers
If Obama keeps his word there should be positive and permanent changes for the better(although in the short term they're difficult) but it's a long term plan with long term goals. The economy won't be fixed immediately and a year is a very short time for an economy. Give it another 4 yrs till you see a difference and we'll know where things are heading
ZackTribal
As Obama said it's gonna get rougher before it gets better. My only hope is we pull out of this by then.
Jen-Jen
In a year the short term economic goals of Obama should be starting us on the road to an ecomonic upturn. But Obama knows from studying FDR that you can't turn a Depression around in a year or even 4, but you can put the country on that path to meet his long term goals. The Economists have told us it will get worse before it gets better. This, of course depending upon whether or not the Big 3 are bailed out. If they are not the task will be far more difficult no matter who was President, Democrat or Republican. Even McCain is for bailing out the American car companies. (He said that on David Letterman this wk. He's back to his old self. Thank God. I liked the old McCain.)
LSquare
Yeah, whatever can go wrong will go wrong
Twisted Taco
If the proposed trillion dollar 'stimulus' package goes through I think much worse. I believe it will hurt much more than help. It's really not much more than a huge pork spending bill. I find it interesting that Bush was bashed, and rightly so, for his 455 billion dollar budget deficit. Obama wants to more than double that for years to come and not one peep from the media. It speaks volumes.
Cowboy-Matter of Fact
It will boom!
Colt COAT of Justice
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