The U.S. Economy

Paper Summary:

This paper discusses reports by the Federal Reserve, the IMF, and the Congressional Budget Office (CBO) regarding the U.S. economy in the year 2004. The paper discusses factors pertinent to the economy including the employment rate, the interest rate, inflation, the U.S. budget and trade deficit and presents opinions that the author has about the state of the U.S. economy at that time.

From the Paper:

"In February 2004, the main problem of the US economy, as identified by Greenspan, was the fact that the company's increase in income and net profits were related to a better use of human resources rather than on an increase in employment. In other words, despite the fact that the economy was on the rise, it failed to produce new jobs. This was a direct consequence, in Greenspan's opinion, of the risks associated with increased employments, more notably "corporate accounting and governance scandals" , a "decline in stock prices" and the overall "geopolitical tensions" . "

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