Huge deficits are the real threat to US economy

THE analysis of the American economy that appeared in last week’s Money & Jobs section (Irish Examiner, October 10) was clearly drafted using spectacles manufactured in a room overlooking the White House rose garden.

Take away spin and delusion and the reality is, unfortunately, frightening.

To be sure, there are green shoots of recovery in certain sectors of the US economy, but that is due to fertiliser provided by the “Baghdad bounce” and the delusions of credulous US consumers.