The Economist posted on how the greatest economy in the world in the 1990s got so feeble by 2014.
Points include:
– America’s broken immigration system.
– Obamacare, though good in other respects, tends to shrink the labour force …
– outdated social safety net
– (the USA) has not raised the retirement age
– allowed its disability-insurance system to become an ersatz welfare scheme
… the odds rise that America’s economy will continue to lumber along at an underwhelming pace, and Americans will have no one to blame but their leaders.
Worse, I see little chance for any serious reform over the next 2 years under Obama.
And not much more chance under President Clinton. As things worsen in America, voters will lash out by voting against the President’s Party in mid-term elections.
More gridlock.
😦
Rick McCharles 