The U.S. has tumbled further down a global ranking of the world's most competitive economies, landing at fifth place because of its huge deficits and declining public faith in government, a global economic group said Wednesday.
The announcement by the World Economic Forum was the latest bad news for the Obama administration, which has been struggling to boost the sinking U.S. economy and lower an unemployment rate of more than 9 percent.
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The U.S. was in fourth place last year, after falling from No. 1 in 2008.
The rankings, which the forum has issued for more than three decades, are based on economic data and a survey of 15,000 business executives.
The forum praised the U.S. for its productivity, highly sophisticated and innovative companies, excellent universities and flexible labor market. But it also cited "a number of escalating weaknesses" such as rising government debt and declining public faith in political leaders and corporate ethics.
US drops to 5th place in global competitiveness - Business - Stocks & economy - msnbc.com
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Well, what a surprise! And all because of our debt, our politicians and corporate ethics! Oh my!
We can take care of our debt problem if our political leaders could compromise and put country ahead of ideology and thusly raise the public's faith in our political leaders and of course it's going to take ideological changes to rid America of poor ethics by Corporate America!
Do our ideologies have the balls to address these issues? I think not!
Thought?
The announcement by the World Economic Forum was the latest bad news for the Obama administration, which has been struggling to boost the sinking U.S. economy and lower an unemployment rate of more than 9 percent.
<snip>
The U.S. was in fourth place last year, after falling from No. 1 in 2008.
The rankings, which the forum has issued for more than three decades, are based on economic data and a survey of 15,000 business executives.
The forum praised the U.S. for its productivity, highly sophisticated and innovative companies, excellent universities and flexible labor market. But it also cited "a number of escalating weaknesses" such as rising government debt and declining public faith in political leaders and corporate ethics.
US drops to 5th place in global competitiveness - Business - Stocks & economy - msnbc.com
=============================
Well, what a surprise! And all because of our debt, our politicians and corporate ethics! Oh my!
We can take care of our debt problem if our political leaders could compromise and put country ahead of ideology and thusly raise the public's faith in our political leaders and of course it's going to take ideological changes to rid America of poor ethics by Corporate America!
Do our ideologies have the balls to address these issues? I think not!
Thought?
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