U.S. economy not perfect but trumps most in Europe
Many European observers smirkingly refer to the US economy as "cowboy economy." They allege that Americans lack self-discipline, that they are too impulsive, do not plan carefully enough and do not have strong social safety nets for the unemployed, the sick, the elderly and the victims of natural disasters. However, the US economy is still growing well and certainly much faster than most economies of the European Union. US unemployment rate is also generally lower than that of EU member countries. Inflation is not (yet) a problem; jobs are being created, although not enough in the skilled areas. Consumer and investment spending are spurting ahead despite fears that the boom cannot last indefinitely. This is not the case in some of Europe's largest economies. Year after year, several reputable studies keep ranking the U.S. as one of the most competitive economies in the global market place. Foreign businesses and financial institutions are still pouring vast amounts of investment funds into the U.S.
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