As the world's largest economy, much of what happens in the United States is felt worldwide. This is why there is great concern both in the US and elsewhere over the expanding size of this country's national debt, which has now topped US$ 16 trillion and is currently expected to climb higher. Given the recent election results, it appears that much of the gridlock experienced in Washington will continue. The looming "fiscal cliff", so often discussed these days, does not appear to be going away but rather becoming a reality if Congress does not act before the end of 2012 to avert a potential double-dip recession. Genuine concerns remain on the part of most economists that action needs to be taken quickly to cut the deficit spending and/or increase revenues, or the country could indeed experience a second recession, which may in fact be more severe than the last.
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The Hotel Yearbook is a family of publications that call upon a wide-ranging group of senior executives, analysts, consultants and opinion leaders from all over the world to ask, "What lies ahead for the global hotel industry?" In The Hotel Yearbook - whether it is the highly respected annual edition or any of the special editions focusing on such critically important themes as technology, talent development, or the digital world - our forward-looking contributors share with readers the key trends and developments that they believe could have an impact on the performance of the hotel industry in the future. Visit www.hotel-yearbook.com.