For Americans, deficit pain is felt close to home
Wed Nov 4, 2009 6:15pm EST
By Pascal Fletcher
MIAMI (Reuters) - Christopher O'Neill is worried about the deficit. The deficit, that is, in his personal income after the 26-year-old Miami finance analyst was forced to find a temporary job paying $20,000 a year less than he earned until January when he was laid off from his auditor's post in Miami.
From Miami to Milwaukee, ordinary Americans are counting the cost to their own lives of the recession, which has seen the U.S. budget deficit swell to a record $1.4 trillion in the 2009 fiscal year -- the biggest shortfall since World War Two.
While President Barack Obama and his top advisers rack their brains over how to goad the sluggish U.S. economy back into robust growth that boosts jobs and exports and reduces debt, most citizens are still struggling to fill the gaps in their jobs, incomes and lives caused by the downturn.
Wed Nov 4, 2009 6:15pm EST
By Pascal Fletcher
MIAMI (Reuters) - Christopher O'Neill is worried about the deficit. The deficit, that is, in his personal income after the 26-year-old Miami finance analyst was forced to find a temporary job paying $20,000 a year less than he earned until January when he was laid off from his auditor's post in Miami.
From Miami to Milwaukee, ordinary Americans are counting the cost to their own lives of the recession, which has seen the U.S. budget deficit swell to a record $1.4 trillion in the 2009 fiscal year -- the biggest shortfall since World War Two.
While President Barack Obama and his top advisers rack their brains over how to goad the sluggish U.S. economy back into robust growth that boosts jobs and exports and reduces debt, most citizens are still struggling to fill the gaps in their jobs, incomes and lives caused by the downturn.
