If you ask me, the economy is making a comeback. The housing market is on the rise. We’re seeing people planning summer vacations and getaways to a higher extent than we have in the last few years.
Washington, DC (PRWEB) June 01, 2013
RoadFish.com lifestyle and finance magazine today issued their observations surrounding the current state of the U.S. economy, a condition which appears to be perking up and recovering more and more each day but in reality is in danger of being negatively impacted by impending tax hikes and spending cuts. RoadFish.com encouraged its readers to hunker down and not necessarily prepare for the worst, but be ready with savings and an action plan lest the economy takes a hard hit.
According to an article by John B. Schoen featured in NBC News, published on May 30th, 2013, Schoen reports that there is reason to believe that the U.S. economy is strengthening and picking up every day. He reports that factors like home prices on the rise, heightened consumer confidence, and an upswing in employment are point to signs that the U.S. economy is in far better condition than it was during the 2008-2009 recession.
RoadFish.com believes that regardless of how the economy fares with the impending budget-balancing package, consumers should be ready for any outcome. RoadFish.com’s Senior staff writer is quoted as saying, “If you ask me, the economy is making a comeback. The housing market is on the rise. We’re seeing people planning summer vacations and getaways to a higher extent than we have in the last few years. I even read a survey saying that when it comes down to a credit check, consumer credit is up in 2013 from last year, with more people paying their bills on time to boot. Signs are pointing toward a stronger economy. This federal business though, I’m not so sure about. It seems like we’d be better off advancing the U.S. economy without these imminent tax hikes and spending cuts, which in my opinion are sure to scare consumers and take a chunk out of our gross reserve.”
The above-mentioned NBC News article reported that there is a pending $85 billion federal “budget-balancing package” which will include spending cuts and tax hikes for consumers. Schoen stated that economists at Capital Economics wrote to their clients this week that “The ongoing fiscal contraction is now the biggest obstacle holding back the recovery.” Schoen writes that this decision may come as a result of a federal stimulus package from five years being largely dried up, and a new effort to tighten belts in Washington is materializing.
RoadFish.com encouraged its readers to keep their noses to the grindstone, and to plan for whatever way the economy wind is going to blow. RoadFish.com’s Senior staff writer is quoted as saying, “It’s important to plan for any scenario. Hope for the best, plan for the worst. So make sure you do have an emergency fund building up somewhere. Be paying down your debt each month instead of adding to it. Maintain your credit score because you never know when you’re going to need to take out a loan. Keep a budget so that you’re not overspending each month. It’s all about making smart decisions in the present to help field whatever the future may bring.”
The NBC News article reports that in the first quarter, the U.S. economy was down a tenth of a point from an initial estimate, expanding at a 2.4% yearly rate as opposed to the 2.5% gain that economists had predicted.
RoadFish.com is an online magazine focusing on lifestyle and finance topics of interest to male readers in the 30’s and 40’s. RoadFish.com offers advice on everything from luxury items, to hot chicks, to restaurant reviews. RoadFish.com also dishes out financial recommendations and information, such as recommendations for how to manage personal finances, keep a solid budget, and economic trends like cash-incentivized weight loss. RoadFish.com is owned and operated by Purpose, Inc.