Individuals and Corporations are not spending as much as there is a lack of confidence in the leaders of this country and also approximately a 16 Trillion Dollar Debt. This debt is only sustainable with low interest rates and continued buying of Treasury Notes by Foreign Governments. The other crisis which is also equally disturbing is the EuroZone Crisis.
PrivateJetsIntl is not so upbeat about private jet charter in the US and abroad due to the lack of leadership and indecision we face. The US has already received a downgrade and the future is not so rosy. "Private jet charter is also in jeopardy of stagnating as the economy stalls," states Mark Fleischmann, CEO of PrivateJetsIntl. The US is in a global economy and everything from food to travel is affected. I personally feel that a lack of will and leadership by the politicians does not help, and people are just frustrated with the lack of expediency. I ask why should the government borrow money it can no longer afford to pay? This vexing question is at the root of the problem. The US is squandering its precious resources. Why should such a rich nation be in such a quagmire over its financial responsibilities?
The future of private aviation is no longer certain. As the demand for private jet charter shrinks due to the economic uncertainty this industry will also shrink. I have seen so many hard working people in this industry either close their business or change industries. I believe this is a direct result not only of the Great Recession, but also the fact that we have lived beyond our means for too long. The outcome ultimately will cost our great nation not only in the way the world views us but also in the human factors, such as higher unemployment and a lower standard of living.
In closing it is self evident that we are not on the right path. We need to change the path one individual at a time and make sure our individual finances are balanced. Hopefully, we can become as a nation more resolute , cohesive and persuasive in our determination as a nation to claim responsibilities for our past and future responsibilities. This change will happen when we are ready and it should make us stronger as a nation.