Trinity Republics Economy Grows By 15.4%
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THE REPUBLICAN REPORT
December 23, 2006
Federation Economy Up 15.4%
Los Angeles, D.T.
Expansion within the Financial and Banking Industry and rapid gains in the service sector helped the Federation's economy grow by 15.4% this year. However, economists are warning citizens of dangerous economic indicators as manufacturing grew by an anaemic .3% this year, and as the country struggles with a record trade deficit of 228.6 billion dollars.
The Departments of the Treasury and Commerce also released their Cooperative Inflation Reports which indicated inflation grew by 9.1% this year. Treasury Secretary Anthony Herrera during the release of the inflation report cautioned citizens that the Treasury Department will pursue a policy of tightening the currency and raising interest rates.
"It will be the objective and agenda of this Treasury Department to advise the Federation government to draw back spending on public development, and place currency into savings while paying down debts. At this point, I see no other choice other than tightening the currency and raising interest rates." -Anthony Herrera, Secretary of the Treasury
Economists and Investors worry that this shift in policy from the Treasury will create a recession, however, the Secretary has reassured citizens that his policy will focus on maintaining stability and control of this volatile economy by ensuring a "soft landing".
"This policy will rely soley on the citizens and government to curtail their spending, bring expenses back in line with income, and focus on saving. I will do whatever I can to ensure a soft landing, however, I can only advise, I cannot change this country's habits." -Anthony Herrera, Secretary of the Treasury.
The Secretary in his report was highlighting the nations national debt of 4.21 trillion dollars and the average citizens debt-to-income ratio of 57%.