President Barack Obama Message Board

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Politics : President Barack Obama

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To: John Vosilla who wrote (100807)	9/5/2011 3:18:06 PM
From: peter michaelson	Read Replies (4) of 149317

A serious contraction (depression) may be not only inevitable but also what is required. The government has used pretty much all of the available tools to stave it off so far, but this has not produced a political consensus to do what is needed to restructure society to regain competitiveness and momentum. Costs and inefficiencies and entitlements and waste are deeply embedded, the result of years of being at or near the top. Now we are faced with gigantic nations gaining productivity as quickly as the US did between 1870 and 1970. It is an entirely new situation. America has never faced a prolonged period of economic contraction and reduced competitiveness. Could it be that democracy operates effectively only in eras (defined as 25 years plus) when economies are growing? Will we be able to find a sensible consensus? Will we be able to face the challenges of shifting world economics or are we facing decades of economic decline? Will we mature or will we remain children?

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