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Economic growth could make budgeting easier in the long termMillions of Americans remain buried by credit card debt and this is unlikely to change as long as nationwide unemployment remains in the 10 percent neighborhood. However, consumers may have received at least one ray of hope this week in the form of government statistics showing that the economy grew at a 3.5 percent rate in the third quarter of 2009. This marks a significant improvement over the 6.4 percent decline in the Gross Domestic product seen in the first quarter, while in the second quarter the economy shrank by a more modest 0.7 percent rate. There may be further cause for optimism when considering that the current GDP figures are better than many economists had been expecting. Still, the big question surrounding the current economic conditions is when job creation will resume at a significant pace. Unemployment has been the factor keeping millions of Americans buried in credit card debt and other financial woes, and economists remain very concerned about the prospect of a jobless recovery.
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