|calendar>>June 28. 2012 Juch 101|
Worsening Economic Situation of U.S.
|Pyongyang, June 28 (KCNA) -- The economic situation in the U.S. is getting from bad to worse.
U.S. President Obama referred to the domestic economic performance. He talked nonsense that non-governmental fields are doing well and new jobs are being created only to touch off public criticism that his remarks were contrary to the American public feelings.
Recent facts prove that this criticism was well grounded.
An economic organization of the U.S. on June 15 noted that the consumer credit index which shows the viewpoints of the citizens on the prevailing economic situation slipped by 5.2 over the index in May, an all time low since December of last year.
According to the recent nationwide opinion poll, 75 pct of respondents expressed concern that the U.S. might find itself in another economic stagnation.
Unemployment and poverty in U.S. society are something like an incurable cancer steadily deteriorating its economic performance.
The number of the jobless has reached 12.7 million as of May, or an increase of 200 000 over April.
Of them, 5.1 million are those who remained jobless for a long period.
387 000 more people were registered as jobless in the U.S. for a week ending June 16.
The number of the poor has swelled in the U.S. since Obama took office.
The number of the poor was more than 37 million in 2007 but it increased to 49.1 million in 2011.
About 20 million of them are the extremely poor people.
International Herald Tribune on September 15, 2011 said that poverty in the U.S. was the worst in 52 years since the first survey was made on the poor in the U.S.
Meantime, spiraling commodity prices are making Americans' living harder.
The U.S. budget and trade deficits sharply increased, causing its state debt to dramatically swell.
The chairman of the Board of Governors of the Federal Reserve System of the U.S. deplored at the hearing of the Budget Committee of the U.S. House of Representatives held in February that its debt reached 15 trillion U.S. dollars, terming it a serious problem.
All facts go to clearly prove that it is quite impossible for the U.S. to recover its economy and its future remains very gloomy.
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