Wednesday, October 31, 2012
America Has A Choice Between Going Backwards Or Only Modestly Forward
Martin Wolf, writing in the Financial Times, provides a good analysis of the US economy and the choices that it faces. It may be a bit technical for some, but he concludes his analysis by arguing that the GOP has only one religion. It views tax cuts, primarily for the rich, as the solution for every economic problem. Wolf believes that Romney's plan will only exacerbate the inequality problem in the US which is a major part of its economic dilemma. President Obama has not been sufficiently bold enough to fix the underlying structural issues in the economy, but at least he is not a step backwards. The US economy is too big to fail. The rest of the world depends upon what happens in the US. It anxiously awaits the decision of the public, which has been inundated with misinformation during the election campaign. Most of the misinformation is coming from the Romney campaign and its media outlets.