"AMERICA,OBAMA AND THE ECONOMIC ARMAGEDDON"

       Seeing the name of the superpower economy in headlines,apparently is not awkward for many.Since the late 2008 subprime mortgage crisis in U.S.A,however,everything seem to be so common.It woudn't sound wrong if anyone says that now America is trying to heal itself from a big financial predicament as the ubiquity of "Uncle Sam's" financial problem is much evident.And most recently,America found itself in the headlines of mass media globally,for the incapability of its' policymakers to find a way to raise the debt limit.

      Obviously,America is not left with  Hobson's choice.The solutions are there,served nicely on the table for this Congress people to choose from.One,reduce budget deficit by austerity measures or also known as,spending cuts.Two,introduce new taxes for the filthy rich groups and create a hike in the existing taxes.And the biggest problem starts here.Obama's Democratic Party voted for the second while the GOP or the Republicans casted their votes for  the former.Many gruelling and gargantuan efforts were taken by many concerned parties,yet they were futile and meaningful.Although the entire world was sceptic about the situation in America(some even claimed that  U.S could be the next Greece),yet the Obama's administration proved otherwise.Just two days before the D-day or 2nd August,the Congress reached a consensus to increase the debt limit by having more cuts in spending.

     Lucky enough,they were!Yet,economists throughout the globe believe that this is not the end of America's debt problem.They still,inevitably need a crusade as a formula of counter-attack the current problem.And many financial analysts as well as these economic pundits say that the present measure chosen by U.S may not be the much anticipated measure.They opine that tax increases could establish bigger and positive implications.However,the time is still ample and America must act wise in future(besides being more prudent) to avoid from plunging into an economic blackhole!