Saturday, November 20, 2010

We have found the enemy. It is us!

I was looking at the list of states in USA which have the highest economic growth. It is astonishing to see states with GDP growth less than 1 percent, dominating this list. Compare this with the 9 percent GDP growth rate in India! How can we count on the ‘fast growing’ economies of Oklahoma and Wyoming to save us? What has happened to the economic powerhouses like California, New York and Texas? I have become extremely pessimistic about the future of this country. As the Federal Reserve chairman Ben Bernanke says, it requires massive spending by the government to get the country out of the current slump. However with the Republicans back in control in Congress, opposing any increase of government spending in the guise of deficit control, I do not see anything good happening to this country for a long time. The dumb electorate of this country, who elected George W. Bush twice as their President, is to be blamed giving control back to Republicans completely forgetting that it is their policies which caused the disaster in the first place. I am disgusted.

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