Why people are gloomy

Article Abstract:

Many Americans are not optimistic about economic conditions in the country, responding to a sluggish employment picture, fear of renewed inflation and rising interest rates, according to a report of the economics department of Chemical Bank. Consumer confidence has been eroding since a surge after the election in fall 1992, dampening spending by both consumers and businesses. The apparent drop in popularity of President Clinton is likely to make it more difficult for the administration to push through its proposals in Congress. The cost of hiring workers has risen because of a number of factors, including the high cost of benefits such as health care provisions, as well as recent social legislation. The Administration is advised to take measures to decrease the cost of hiring workers, such as tax credits for hiring new employees rather than for buying equipment and repealing the Tax Reform Act of 1986, among other efforts.

Admin. of general economic programs

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Conundrums

Article Abstract:

Americans are ambivalent about the economy as they move towards another Presidential election cycle. For instance, they worry about job security while simultaneously demanding that the companies they invest in do whatever they can to increase their profits. Such mixed views have resulted in conundrums that have both positive and negative sides. One of these concerns the issue of inflation, with the good news being that the inflation rate has already been reduced, while the bad news is that low inflation makes it more difficult for companies to reach their profit targets.

Economic aspects, Political aspects, Economic development, Corporations

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Prescription for prosperity

Article Abstract:

The government must boost economic growth in the short-run and reduce the budget deficit in the long-run in order to effectively jump-start the economy. For the immediate problem, the government must specifically increase investments on public infrastructure while attempting to cut both luxury and social security taxes. To reduce the deficit, the government must freeze government spending save for debt payment interests while it executes a value-added tax on specific items such as alcohol and tobacco.

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