COLUMBIA CITY — As the United States was plunging over the Fiscal Cliff, a rope was tossed as a solution. How well would it hold? This question and others were answered by Jim O’Donnell, Executive-In-Residence at Huntington University, at an economic lecture at Parkview Whitley Hospital Friday morning.
O’Donnell, who is known for adding humor and wit to his lectures, believes the forecast for the economic future, on the home front and abroad, could be pretty grim. He explained his bearish stance is based on trends and attitudes.
Economies throughout the world, including the four largest, are all languishing to some degree. What concerns O’Donnell about this fact is that it could be more than just a temporary phenmenon.
“This is not just cyclical,” O’Donnell said. “The trend is not our friend.”
While he did speak against the economic problems caused by entitlement spending, O’Donnell is not completely unsympathetic. Middle ground is the correct answer to this problem facing the U.S., he said.
Moving to correct these problems will not be instant or a quick-fix. O’Donnell sees some of the problems currently facing the United States and world economies as tracing back almost 80 years. Such difficulties will not be solved overnight.
While the forecast for the future was very cloudy, O’Donnell did not leave the meeting on a down note. Always known for his humor, the former accountant offered this advice to the crowd.
“I have a bowl of Prozac outside,” he said with a laugh.
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