Right now, American citizens are extremely anxious about the running presidential nomination contests which must enable Native Americans to choose the most eligible and competent president to take care of their interests. However, meanwhile, renowned economists, statisticians and experienced journalists are doing lot of preliminary homework to predict the economic condition of America in 2020. Will it be a disastrous financial downtime or recession to jolt the whole nation jeopardizing the domestic market to a great extent? Or will it be a smooth growth of the national economy of America to power the millennial generation with excellent employment opportunities? So experts must do meticulous analysis through comparison and research before the prediction about the future of American economy by 2020.
Expenses to Be Reduced in American Defense
After an initial bird’s view , a group of economists stated in Wall Street journal that maybe the US defense will be affected due to the reduction of expenses in reinforcing American troops to lay aside few million dollars to overtake financial stringency. Gulf war and month long battle in Iraq have cost White House around 800 billion dollars. So, in 2020 American military will have to cut the annual budget to size to prevent recession. In a recent press conference at Miami, Hillary Clinton expressed her strong desire of prioritizing the so-called middle class by launching new financial boosters to develop the housing market. It is a resolution to provide the cost effective shelter to American middle class citizens. The housing market will be revitalized by investing more US dollars. On the other hand, the advent of Donald Trump as a non political New York based billionaire to struggle for getting presidential nomination must change the overall economic scenario of America. This heavy weight will not spare Mexican infiltration issues. His straightforward verdict against Mexicans and Muslim countries must influence economy of the country. However, he must be elected President to have drastic measures to end the Obama-care regime.
Moderate Inflation Rate in America
Truly speaking, rate of inflation in America by 2020 will fluctuate to some extent. American administration must track the inflation rates before money investing in different sectors. Oil prices will be down slowly to enable America to import oil at cheap price. However, product importing trends must be controlled to reduce expenses. Instead, the US government must encourage entrepreneurs to export goods to earn more foreign currencies. China is one of the good importers to import oil from America. Therefore, this sudden drop in crude oil selling price can slow down the GDP growth in the country.
More Investment in Entitlements
Entitlements will also receive few changes to make it affordable to US government when there will be a new financial budgetary plan to implement. The prominent rise from $2.1 trillion in 2012 to $3.1 trillion in 2013 to 2220 will certainly compel budget planners to handle expenditure swiftly. Within 2021, Medicare will have better condition through the proper growth rates. Social security can’t be ponzi as it always compensates the financial deficits of the federal state. Therefore, more investment is needed to create space for upgrading the entitlement sector. However, millennial generation has different opinions to share. According to them, after few decades, the social security will not sound constructive and precious to people. Very few young guys think that the same social security conceptions will be reflected in the society after 50 or 60 years to enable oldies to have financial benefits. Top brass of American administration is planning to reduce benefits for people. Instead the retirement age will be extended to facilitate next generation. However, Federal administrative machinery should keep the balance at the time of chalking out financial budgets to create more flexible horizons to speed up the development of entitlement sector.
More Jobs for Millennial
Generation by 2020 must be favorable to young educated citizens who will get new job offers from government of America. More baby boomers will retire within 3-4 years to help young unemployed guys to apply for smart well paid jobs in various sectors. The unemployment issue will be handled boldly. The US congress and American administration must be unanimous to assist employers who are intended to absorb more competent workers in factories. So, many easy loan schemes and financial benefits are said to be given to such commercial organizations to reduce the jobless rates in the USA. Experts claim that by the end of 2020 there will be 6 percent unemployment rate due to the implementation of beneficial multifunctional business growth plans including the higher increase in the production rate. Donald Trump’s extra ordinary resolution “Make America Great” must be made effective.