Most of the time on this blog I discuss somewhat humdrum issues such as:
- Slow economic growth, averaging just 2% since the end of the Great Recession in June 2009. Slowly our unemployment rate has shrunk to its current low level of 4.1% and finally median wages are beginning to rise. But faster growth would give a badly needed boost to millions of the unemployed and underemployed.
- Massive debt, now 77% of GDP (for the public debt on which we pay interest), the highest since the end of WWII, and predicted by the Congressional Budget Office to keep getting steadily worse without major changes in spending policies. When interest rates rise, as they surely will before long, interest payments on our accumulated debt will skyrocket and cause huge pain.
- Being a free democratic society, is our greatest strength of all, because it allows most of us to reach our own maximum potential. Furthermore other democratic countries are our best friends and their number is increasing around the world.
- America is a prosperous country which means that most Americans grow up in a loving and supportive environment which is critical for getting a good start in life.
- America has an outstanding educational system, on the whole, which well serves most of us. Especially in today’s globally complex and highly competitive market place, the ability to adapt to new trends and developments is very important.
Conclusion. America has huge strengths which well serve most, but not all of us. One of our country’s great challenges going forward is to reach out to those members of society who have been left behind and help them share more fully in our prosperous society. Stay tuned!