Workers have either chosen to leave the work force early in the last few years or, more likely, have applied for social security benefits as early as possible because of the weak job market.1 Opting to receive a smaller social security annuity earlier in life is just one of many hard decisions Americans have had to make in order to balance their short-term and long-term financial needs.
The growth in credit is slowing down from around 25 percent annual growth prior to the credit ceiling to about 12 percent now. Imports have declined by 7 percent in the first six months of the year. Exports have shown some encouraging signs. Foreign reserves have stabilized and have even risen lately.