Saturday, January 29, 2011

U.S. Economy in Deep Recession-KCNA

U.S. Economy in Deep Recession

Pyongyang, January 29 (KCNA) -- The U.S. federal government′s deficit is forecast to hit nearly 1.5 trillion dollars in the 2011 fiscal year, according to predictions unveiled by the U.S. Congressional Budget Office (CBO) on Jan. 26.

The figure is 200 billion dollars more than the last fiscal year.

Meanwhile, invisible is a sign of significantly reducing the present unemployment rate any time soon.

Experts are of the view that the U.S. Administration is in trouble by the continued financial crisis and high unemployment rate and that the U.S. is worried about another serious economic crisis likely to come at any time.