Economy Starts to Move

President Obama begins his second term with a growing economy. That may be the reason it was barely mentioned in his inaugural address.

Treasury Secretary Tim Geithner in a Wall Street Journal interview claims the U.S. economy is in its early fourth quarter of a recovery (Europe is only in its second quarter). He believes the economy is resilient and diverse with many strong elements in recovery. Colorado’s economy is definitely in a recovery. Its diverse economy is back in a host of areas: housing, agriculture, high tech, manufacturing and energy.

Although Geithner believes the American economy is strong enough to survive the dysfunction of the political system, he does warn that, at some point, our creditors may run out of patience for our fiscal irresponsibility.