Econmics-Entry 2

Two days to cut: What's Congress doing?

CNN News, February 27, 2013
http://edition.cnn.com/2013/02/27/politics/congress-cuts-countdown/index.html?hpt=ibu_c2

Summary

Significant budget cuts will be passes within two days; however, several conflicts should be done before this serious cuts to be placed on the U.S. society. Without making a determined choice, Republican Party is having conflict over approving/disapproving budget cut that may significantly impact not only in economy but also in the society as whole. Though Democrats argue that the government would compensate loss of budget cut by collecting more taxes from rich people, but it is still an insufficient measure to alleviate ripple effect of budget cut. In addition, some are worrying that the government would release some criminals in part of budget cuts and arguing that Obama's Administration is threatening safety of American people.

My Opinion

Even though budget cut will bring about significant impact on economy and ripple effects on American society, it is unavoidable for government to reduce its budget in order to reduce national debt that is rapidly increasing. Obama failed to effectively deal with economic problem in his last term, and it is responsible of him to bring about such a catastrophic result in American economy. I hope the U.S. to reduce national debts even if it is small amount. I hope the sacrifice of American people will bring about a worthless result.

Economics-Entry 1

Doubts loom over eurozone recovery

CNN, February 21st, 2013

http://edition.cnn.com/2013/02/21/business/eurozone-recovery-doubts/index.html?hpt=ibu_c1

Summary

While Germany's prospect of eurozone in 2013 seemed optimistic in the edge of 2012, there are still some difficulties and problems are remained to be solved. Composite output index, which counts both services and manufacturing, of France, the second economically stable eurozone country, was decreased about 0.3 from last months, and the index of other eurozone countries were dropped about 0.2 to 0.3 in average. Even though this recession casts a doubt whether eurozone is able to successfully recover from financial crisis, most economists seem to have an optimistic stance on eurozone's recovery, considering such drop as "reality check" that may allow eurozone to take further actions in propelling economic growth. Still, the future of eurozone in this year is an ocean covered with thick mist. 

My opinion

Since eurozone did not take many actions for solving the economic problems for this year, it is hasty to stipulate that the future of eurozone will be as bleak as it was in last year. Though it could be merely an optimistic speculation, many economists and analysts prospected that economics condition of eurozone will further get improved in this year, and eurozone countries are ready for adjusting policies and carrying out projects to face the problems. Unexpected reduction in production rate would be frustrating for most of the eurozone countries; however, this recess can be a good chance to look for faults in eurozone economy system and lead out further progress in this year.