Is the US economy on the way to recovery?
Posted by Stephen Cline on February 16th, 2010The US economy has got into a ‘ditch’ which has come in the way of its speedy recovery in the past couple of years. It is thus no surprise that people are just speculating and hoping for the recovery to happen and it seems as if some of the signs of recovery may be becoming visible, finally. Unemployment rate seems to be coming down, even if it is quite marginal and seems all so slow. VP Biden is now touring the country, on the eve of the historic $787 billion stimulus package that was given the boost the US economy and lift it out of the rut that it had slipped into, in the wake of the global financial crisis.
The Vice President mentioned that the recovery is working and it is laying the foundation for the long term health of the US economy. The package has pulled back the country right from the very brink of economic disaster, such that there is hope for a full blown optimism that the recovery will be secular and sustained. It seems this stimulus package has created and also saved jobs to the extent of 1.5 – 2 million, which means that it has saved so many families from financial ruin.
Tags: recovery, US economy