Updated Trends: Larry Summers Exit Paves Way For President Barack Obama To Re-coupe Economic Team
After the exit of Economic advisor Larry Summers, it has in a way paved the path of President Barack Obama to re-coupe his economic team, in order to take up some serious decisions to make the country recover from the wobbling economy. For the moment whoever seems to be replacing Mr. Summers, will be looking straight at a $1.47 Trillion budget deficit and a possible Democratic loss of control of the House of Representatives.
One of the core reasons of placing President Obama’s mid term elections in jeopardy, is the unemployment rate and the massive inflated slow growth rate which has kissed double digits. There is even a fear that the country may once again pip into recession, in the next first half of the financial year.
On the other hand, Obama’s economic team, who are in-charge of the re-stabilizing the economy are strictly criticized by the public as they speak up of strong plans to help the county recover but they are always unable to stand up to their promises. If such a situation continues then Mr. Obama will be looking at something very catastrophic in the future.