A recent US economic analysis by members of Republican Party has shown that a new financial stimulus package proposed by Barack Obama is making same mistakes as had been made by Franklin Roosevelt.
IN-DEPTH: US economy it has been revealed that this fiscal stimulus scheme would be detrimental for its economy. It looks to increase governmental expenditures and deficits and thus is reiterating same mistakes that deepened impact of Great Depression.
Recent economic analysis in US has revealed that basis of National Industry Recovery Act was weak and thus it was not exactly able to achieve what it had set out to do. This act also had a role to play in delaying economic recovery of USA at that point of time.
Fresh studies and economic analysis of US have shown that consumers in that country are spending less. New reports reveal that in December 2008 consumer expenditures have gone down at a rate of 1 percent. Read more....