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Economic Prospects for US 'Fairly Bleak'

Service : Economy
TEHRAN, June 27 (ICANA) – The biggest problem that America faces right now is that the country’s debt has become so large that the Federal Reserve has gone to the limits of pushing interest rates near zero, Professor Paul Sheldon Foote with the California State University, Irvine believes.
Monday, June 27, 2011 9:28:35 AM
Economic Prospects for US 'Fairly Bleak'

Professor Foote says the U.S. economic prospects right now are “fairly bleak” as Democrats and Republicans continue to argue possible solutions to slim down a national debt which has already hit a $14.3 trillion limit.

Large numbers of vulnerable Americans are badly hurt by the current economic situation, he said in an interview with Press TV's U.S. Desk on Sunday.

Foote expressed pessimism about prospects for America's ongoing debt crisis.

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