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Has the US recession been on the cards for a number of years?

As the US economy continues to stall at an alarming rate many observers are now convinced that the recession we are experiencing now has been coming for many years. A quick look back at the level of government spending in the US will show that spending as a percentage of GDP has been increasing for many years. In effect historic US governments have been mortgaging the future and now with tax income set to evaporate over the next few years the country is in a serious situation.

While the US has always been put forward as the leading economy of the world, which in many ways it is, there has always been concern about the levels of national debt and the apparent spend spend spend trend of US governments over many decades.

When you consider this together with the property boom which was assisted by the authorities, with more and more US citizens encouraged to acquire property, the problem has been building for some time. The credit crunch has identified and exploited a major weakness in the US economy and the ever increasing dependence upon the property market. Does this sound in anyway like the UK economy?

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