As the U.S. Presidential election approaches, every voter should think about how our country is doing overall.
Here is how I evaluate our country’s biggest problems, including what to do about them, as we approach the November election:
- The Pandemic. After a big surge in July, the rate of new daily infections is now dropping back down. Furthermore, the U.S. economic recovery from the pandemic recession is gaining steam even if other economies around the world are still sputtering.
- The U.S. economy overall. As the rate of growth of GDP has unavoidably slowed down to about 2% annually in recent years, a very important statistic is the unemployment rate. Before the pandemic took off, as recently as February 2020, the U.S. unemployment rate had dropped to 3.5%. This meant that there were more jobs than job seekers and wage raises across the board. This is exactly what all low-income wage earners, including many minorities, need to move up the income ladder.
- The national debt. Uggh!
- Racism still exists in the U.S. but its effects are diminishing as blacks do better economically. The key is for blacks and other minorities to take more individual responsibility for their status in life rather than blaming white cultural supremacy for their lack of achievement.
- The China Threat. The U.S. still enjoys unipolar status as the world’s strongest country, both economically and militarily. The Chinese economy is now growing faster than ours but, for demographic reasons, is likely to peak at about 76% relative to the size of the U.S. economy by 2040. Of course, we should cooperate with China on both environmental (e.g. global warming) and health (e.g. pandemic) issues but clearly understand that we are competing with China in many fundamental ways.
Conclusion. The U.S. has problems to address but they are under control (except for the debt) in a general sense. U.S. world dominance is likely to continue for many years to come and be a major contributing factor to continued world peace and prosperity. But let’s not become complacent! Eternal vigilance is the price of liberty!