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Private Jets and the 16 Trillion Dollar US Debt
PrivateJetsIntl still sees a decline in private jet charter as the US Debt balloons to over 16 Trillion Dollars.
"This lack of decision has also affected the private jet charter business", states Mark Fleischmann the CEO of PrivateJetsIntl. With so much stagnation in the economy many corporations feel the need to spend less. The US debt is only one reason for this. Other reasons are the high unemployment rate as well as gridlock in Congress. This is not conducive of a strong economy and causes much anxiety not only in the US but in the world economy.
As private jets and private jet charter are both luxury goods their demand has significantly declined as the economy sputters. The reasons are self evident as people and corporations are no longer seeing the growth which inspired the use of private jets in the past. The demand is not only weak here in the US, but also overseas. With the Eurozone Crisis another case can be made for this decline. People and companies are rethinking their travel needs. Some are not traveling at all while others are going first class. As business declines one can say the economy indirectly becomes weaker. While this is not always the case it seems to affect the private jet industry vigorously.
As elections near the economic situation becomes a focal point on American's minds. If we keep spending more than we collect in taxes we will have a deficit. We need to correct our past mistakes by implementing fiscal control and by balancing the budget. This will bring us one step closer to restoring our confidence and granting us control of our countries destiny.