Wednesday, November 7, 2012
Economy That Boosted Obama Looks Nothing Like 2008’s
http://www.businessweek.com/news/2012-11-06/obama-re-elected-with-economy-nothing-like-2008-s Due 13 November 2012. According to the article, what are the differences between the economy of 2008 and 2012? How are forecasters (such as the Fed) viewing the future economy in the US?
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The U.S economy that President Obama inherited this term is much stronger than the economy of 2008. Unemployment rate is falling, and the country is growing at a rate of 2% per year. Unlike 2008, when unemployment was on the rise, and the housing market crashed. So, there are several different forecasts for the future economy, ranging from weak to strong. The fed predicts that the U.S will jump to a 2.5 to 3 percent growth.
ReplyDeleteThe article states the economy in 2008 versus the economy in 2012 is markedly different. Instead of rising unemployment, employment is increasing 2% annually - approximately 157,000 new jobs are created monthly. In 2008, our economy was declining, and unemployment rate was increasing monthly. Overall, the economy is in OK condition, versus 2008, when it was in awful condition. Forecasters and the Fed are wary of the "fiscal cliff," the $607 billion automatic spending cuts and tax increases, and how it may negatively impact our economy. The Fed however is optimistic, and predicts that the US economy will grow from 2.5% to 3% growth - an optimal level. Growth in housing and employment across the US has led to positive speculation, and overall things look good.
ReplyDeleteThe differences between the 2008 economy and the 2012 economy are that the 2012 one is much stronger. This is due to the unemployment rate falling and employment increasing 2% every year. Meaning, the country is gaining almost 157,000 jobs a month. Paradoxically, the 2008 economy had increasing unemployment, not to mention the housing market crash. Overall, the economy is better off and the majority of forecasts are positive, saying that the economy will grow 2.5%-3%.
ReplyDeleteAccording to the article, there is a stark difference between the economy the Obama inherited in 2008 and the economy he inherited in 2012. The major difference is the direction each economy was facing. When coming into office back in 2008, Obama was faced with an economy that was spriling downward. Now, in 2012, Obama has won back an economy that is proving to be growing stronger. This growth is due to falling unemployment rates and rising employment rates. The forcasters of the US economy view it as a progressivly growing economy. With banks passing the stress test and the housing market on the rebound, most forcasters seem optimistic about the future of the US economy. Although the biggest threat to the stability of the economy is the looming fiscal cliff that our economy might just plummit over if Congress doesnt act quickly.
ReplyDeleteAccording to the article, the economy now is nothing like the mess from 2008. The economy isn't thriving but it is okay. It is growing at a rate of 2% and the unemployment rate is decreasing. The Fed predicts an optimistic acceleration of a growth rate of 2.5% to 3% and the UBS Securities are saying that the economy is not moving in the direction we want.
ReplyDeleteThe economy of 2008 is completely different from that of 2012. The economy of 2008 faced a crash in the housing market, which further damaged the economy. One major difference in 2012 is that unemployment is decreasing while the employment rate rises 2%. The Feds have a very optimistic outlook on the future of our economy, predicting a 2.5-3% increase, making it a growing economy.
ReplyDeleteOur economy now is in way better condition than it was in 2008. The unemployment rate has been decreasing. The country's economy has also been climbing at a rate of about two percent a year. In 2008, unemployment was increasing and the market for housing had crashed. The future can be looked at in an either positive way or negative way. It is predicted that the economy will increase by 2.5/3 percent in the following year.
ReplyDeleteJaime Caldaro
ReplyDeleteOur economy has been growing since it's previous condition in 2008. Unemployment rate is falling, and the country is growing at a rate of 2% per year. Unlike 2008, when unemployment was on the rise, and the housing market crashed. So, there are several different forecasts for the future economy, ranging from weak to strong. The fed predicts that the U.S will jump to a 2.5 to 3 percent growth.
The country is beginning to grow at an annual rate of 2 percent instead of decreasing and taking away jobs, businesses are also handing out paychecks at a monthly average of 157,000. Unemployment is falling. Throughout the country, homes that once sat on the market for years are now in demand. Consumers are paying off their debts; credit card obligations have fallen 10% since January. And big banks are making their way back up. The article states Obama is likely to come through with campaign promises to protect spending on infrastructure, education and clean-energy manufacturing.
ReplyDeleteIn the article they say that the country's unemployment is falling which is true. The article states that President Obama is going to fulfill his promises as President of the United States when he made those promises in 2008 no one thought he could do it but he is showing why he is still the President of the United States. The country is also growing at a annual rate of 2 percent and that is good because that makes unemployment go down.
ReplyDeleteThe differences between the economy in 2008 and the economy in 2012 are the improvements. The country is growing at a 2 percent rate. In addition, the unemployment rate is falling, the housing market is rebounding, and consumers are paying off their debts. The economy for the future is being viewed as a potential worry. In 2013, there will be a budget cut of 607 billion dollars. In addition there is a sovereign debt crisis we need to handle.
ReplyDeleteOur economy today differs from what is was in 2008 because of it's improvements. The country growing at a 2 percent rate and the unemployment rate is falling; the housing market also appears to be gaining strength and stability. Homes that were not desired are being purchased, and consumers are paying off debts. Despite these promising signs, the future of our economy is uncertain as there will be a budget cut of 607 billion dollars in 2013.
ReplyDeleteOverall, the 2012 economy is stronger and more promising than the 2008 economy. In 2008, the country was falling into a grave depression where the housing market crashed, unemployment was skyrocketing, and growth was slower than ever. Today, unemployment is slowly depleting in that job growth is at 2% ---157,000 jobs are being created per month, the housing market is slowly coming back, and we aren’t currently in a recession. Forecasters project that growth will jump from 2.5 to 3% which is a comfortable and recommended growth for the United States.
ReplyDeleteWhat makes our economy today different from four years ago is the country's growing rate at 2 percent and the decreasing unemployment rate. We have definitely come a long way from the mess of 2008. There are 157,000 new jobs every month. The feds anticipate a growth between 2.5% to 3% within the next year. However, no one can be definite about the future economy as budget cuts seem almost certain.
ReplyDeleteThe article addresses what the people could've already assumed. The economic market that President Obama inherited in 2008 was much worse than that of 2012. In 2008, the market was suffering from the crash in the real estate market and things were looking pretty bad. Expectations for the market at the time were that it would continue to plummet. Today in 2012, President Re-Elect-Obama is handed a nation with a better economic market and predictions that are optimistic. The employment rate is on a rise in the United States and is expected to continue to do just that.
ReplyDeleteThere are huge differences between the economy in 2012 and the one in 2008 when Obama first took office. Now the economy is at a 2% growth and unemployment is decreasing. In 2008 unemployment was on the rise and the real estate market had crashed. The expectations are that the economy will increase to 3% growth which is the optimal level and the general outlook is good.
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