Is there a specific reason why americas economy is startig to slow?

Question

Is it the war, gas prices or anything else?

Answer 1

Its many things. In this age of Globalization, there is no 1-Answer fits all.

Its our Trade Balance

..our Account Deficit

..our devalued currency

..our retiring baby boomers

..our housing market

..our financial markets

..etc

Answer 2

several answers, all specific:

1. inflated housing prices, easy credit and bad mortgages given to people who can't manage the debt

2.  rising gas prices (law of supply and demand and no help from the govt)

3.  corporate and govt excesses - inability to balance the budget, focus on short-term results to make stockholders and mgmt happy and get their big, fat bonuses (earned whether or not they actually helped the company)

4.  loss of millions of jobs that will never be replaced as long as we allow so many imports from cheap-labor countries

Answer 3

My answer is not the whole picture--after all, China would have grown sooner or later, and the Chinese have the right to prosperity too--but Americans need to know how much Pres. Bush Junior caused or accelerated the US's problems (and, mind you, I LIKED Pres. Bush 's father, George Bush Senior, who REFUSED to invade Iraq--so it's not like I'm just 'anti-Republican' or 'anti-Bush'):  The Bush Junior Admin:

1. Invaded Iraq, costing the US $trillions with more costs to come.  Like Coliin Powell said, "You break it, you own it."  Well, now the US 'owns' Iraq at a Very High Cost.

2. Implemented the 'Senior Drug Prescription' plan, using false projection figures (the 'mysterious fax')_which will also cost younger Americans $trillions over the years--and, mind you, this cost is not even figured into the current projection costs  [it's not only the cost of drugs to consumers--it's the fact that this plan allows drug companies to invest billions researching high-cost drugs for rare AND common disorders at US taxpayer Very High expense].

3. Also not figured into the cost--the care of the 30,000 (minimal estimate, and just to date) Iraq war veterans, anticipated at this point to run into $trillions.

4. The housing crisis--it was the Bush administration's decision to make loans 'easily affordable' to people who couldn't really afford to own homes (no payment down, etc.). That 'easy affordability' led to the Fast Inflation of homes nationwide,  an increase in new construction, and homes rose in price 30% a year in our neighborhood.  BUT these buyers couldn't afford these homes, and are now going bankrupt, their homes going into foreclosure. Bush allowed the housing market to get "sloppy" so there were a lot of predatory lenders out there who knew the gov't would back them up if the homebuyers defaulted on their payments.

5. Pork--Bush Jr. has exceeded all other US presidents regarding pork spending.

6."Tax breaks" and "stimulus refunds" during war time.  This is the 1st war the US has fought where taxes have gone down, rather than up to pay for war costs. Great to get the Republican vote for the short-term--short-sighted people LOVE those tax cuts--but the US is now just deeper in debt to China, and it's our children and grandchildren who are going to suffer.  You can be sure Bush Jr. is sticking  future presidents with the problem of our national debt.

7. Bush's policies a few years ago actually drove the Asian nations, somewhat hostile towards each other, to unite "against Bush."  This contributed to the current boom in China's prosperity.  I don't begrudge the Chinese their prosperity, but it seems (as seems to be the case in most fast-developing countries) that the money is going largely to the already-wealthy--ie., prosperity is only trickling down to the masses.

8. DECREASE in student loan subsidies for college education.  In the US, virtually all students.or the students' parents, have to pay for college educations (save those few scholarship winners). The Republican congress, right before Xmas 2 years ago, REDUCED the amount of loans to students, making it harder for the underprivileged (and children of military personnel) to afford college.  This is reducing the # of well-educated Americans.  Hey, look campuses like Princeton University--a huge %age of the students are Asians.  Look at the big defense company where my husband works--his colleagues are Indians and Chinese.

....tI can think of other things off the top of my head, but I have other things to do.....but I'm convinced that history will bear it out (that it already has)--that Bush Jr. had a HUGE amount to do with the 'fall of the American Empire'---not that being an 'Empire' is the most important Thing a nation can be.  Maybe 'integrity' is what we Americans should aim for.

....