The USA is currently seeing a boost in the export of various goods. Obama say that the very phrase “made in USA” seems to mean a lot to people all around the world, which supports the US economy and reminds the world that it is still competitive.
Apparently, the problems caused by the global financial crisis were the major reasons for multiple concerns that Obama’s ambitious plan to double the export volume may eventually fail.
According to Obama, high export is a cornerstone of a strong economy. In particular, $1bn gained from selling domestic products abroad may provide for 5000 jobs. That is why it is so important to maintain the positive dynamics in the future.
Since the 2008-2009 financial crisis hit the globe after some major US banks went bankrupt, the US economy has recovered and is now growing slowly but surely. This is what Obama underlines. Still, Obama’s political opponents say the growth is faint and some economic sectors with millions of people haven’t seen this growth at all. Still, Obama has created a special consultative committee, which includes the CEOs of Merck, Xerox, Boeing, Dow Chemical, Walt Disney and other major companies.
Congress Is About To Make Final Decision
Meanwhile, the House of Representatives of the US Congress is about to decide on the budget that will be financing public sectors and governmental agencies. This should be done as soon as possible since the financing should be started no later than November 15th, otherwise many civil servants had to be furloughed.
The Republicans seem to be speculating the situation. Experts connect it with Obamacare. President Obama is indignant at the Republicans’ actions, saying they use economic issues to reach their political goals. He says it is not the time to play political games when the USA’s economic security is in jeopardy.
The chart above, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of the US Dollar index (.DXY).
