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A Journal opinion article - Essay Example

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According to the economic report of the US President that was released last Monday about the poverty situation in the US, and contains an overview of the last five decades, the situation seems tricky and unfathomable. Is the overall situation disheartening? It cannot be denied,…
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A Journal opinion article

Download file to see previous pages... e report is erroneous although there is no reason to harp on this issue since the myth about the flourishing economic situation of America has disappeared since the days of the sub prime crisis.
The other question that requires analysis is whether the foundation of this data is indisputable or not. This is because the way in which such data is calculated in the countries of European Union is different. The countries of the western European region have been moving through shaky financial situation for a long time when other problems such as unemployment are added to it. According to an estimate, the poverty situation in the US would have been higher if the method of calculation would have been on the lines of the European nations. However, that would not change the problem of poverty of a country that has always remained the hub of financial excesses. The economists have expressed extreme annoyance on this report that has been released by the President.
The statistics of poverty situation might not be promising in the US particularly from the time of recession that gripped the nation with its ugly claws and gradually captured the entire world. However, as the economists have expressed that the data that has been taken into account for calculation is not correct as it has left out some of the most important aspects such as tax credits. When compared with the developing nations such as India or a part of South Eastern Asia, the poverty in the US might not be as bleak as it has been presented in the report.
Poverty is necessarily a curse of every economy although it goes alongside irrespective of the situation. As a matter of fact, it is difficult to predict the way in which financiers would react to this report; overall the situation would not have much promises for them although the people who are thought to be under the grip of poverty or classified as belonging to the category below the line of poverty. In short, investments in the real estate or stock trading ...Download file to see next pagesRead More
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