Given the recent reports concerning proposed economic prosperity for 2011, it was logical that Barack Obama would cite the literature in his weekly address to the US. He identified the positive trends that have been established in job creation and reduced levels of unemployment, and suggested that these figures herald the beginning of a brighter year ahead for the country. His speech was an exercise in accentuating the positive, and an attempt to capitalize on the growing optimism in US society.
Although these reports suggested a level of economic growth that was underwhelming when compared with economists predictions at the close of 2010, there was still clear progression and improvement in the fiscal circumstances. Unemployment dropped from 9.8 to 9.4 percent throughout the last month of 2010, and although it has been suggested that this is due chiefly to the fact that many stopped looking for work during the festive period, the government is keen to assert that this is a portent of things to come.
The Wider Picture for the Growth of the US Economy
It is widely known that the condition of the US economy in 2012 could well be the deciding factor in Barack Obama’s prospects for a second term in office. It is all too apparent that a large and disproportionate amount of responsibility for the economy falls on the shoulders of the president and his representatives, which is especially concerning given the size and capitalist nature of the country. It is arguable that the responsibility for such a diverse economy should be more equally spread, with businesses and individuals being encouraged to take control of their own financial health and well being.