The Obama administration is heading for tough times ahead, because the unemployment is scaling up every month, and has already reached 9.7% as of last month end. Now many states have started curbing their expenses and slashing their jobs which can only complicate the recovery process.
The cash-for-clunkers is over and it has already burnt over three billion dollars of tax payers money. The property prices are still not recovering and at ruling over 12% lower than what they were a year ago, in spite of 10% stimulus package given by Obama for all first time home buyers. That scheme is also going to end in the next two months.
The US FED has indicated that there are over 400 banks which are failing the safety standards as on date, which means that more banks could crash in the coming months.
So brace up for tough times in the coming months.