President Obama's 2012 budget has been criticized for kicking the debt further down the road and borrowing money to squeak through a second term. The 'after me the deluge' approach worked for President Bush II so why not for Obama I?
http://www.reuters.com/article/2012/02/14/us-usa-china-idUSTRE81D08R20120214?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F+US+%2F+Top+News%29&utm_content=Google+Feedfetcher
Of more interest is the Chinese 2012 budget that was released in December. It has an anticipated GDP growth of 8%, and as the Cheung Kong Graduate School of Business advertised in The Economist 'A new world operating system is now running.'
What that means for Americans in effect is that China has a moderately effective one-party political system that plans and structures its national economy much better than America's polarized democracy that has substantively schizoid political philosophy underwriting it . American democracy is owned by the rich from Super Pacs to ordinary run of the million dollar congressional campaign seats, and the populous is about ass incompetent as it could get with all of the confused, incompetent ideas from their leaders even about what the U.S. economic goals should be. Rush Limbaugh is perhaps the roll model for Lenin's notion that 'capitalists will sell us the rope we hang them with'..
America's democracy in head to head competition with China's one-party system may lose the economic race because the middle class and rich are just too damn comfortable to think about political philosophy enough to do the nation any good.
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