Why the U.S.A. Has Become a Slum Economy

The United States has become a slum economy since the end of the cold war, with the people experiencing the slump of center of effort of national economy development (it has moved much closer to China) being prevalently the poor and the middle class.

At the close of the Clinton administration U.S. public debt was less than six trillion dollars. At the end of the Bush II administration the debt was a little more than ten trillion and now in the last of the first term of the Obama administration public debt has reached nearly 16 trillion dollars. Public debt eventually requires cuts in public spending in order to pay interest on the debt and has many other dangers.

The Clinton administration got the slum rolling with deregulation of finance and flood of illegal alien workers and flimsy, pyramid scheme resembling finances for banking and commodified home mortgages simultaneous with outsourcing of economic renewal to China. The Bush II administration extended and increased the bad financial footing after 9-11 with the military spending of two protracted wars and large federal deficits. When the Banking and mortgage crash occurred in 2007-2008 the new U.S.A. as a slum emerged.

Five trillion dollars of new public debt after Wall Street's crash and automobile bailouts, the slum footing of the economy hasn't changed. The rich are getting richer and the middle class employed isn’t too bad off while the poor and unemployed have increased their numbers becoming a permanent and separate domestic underclass. Radical economic reform of free enterprise to reign in corporate networking advantages might be welcome by individuals seeking a restoration of individual entrepreneurial opportunity.

China is the plum for The Street and globalists and the United States is a slum second rated in economic development plans. The Street is not concerned about profit for the people of the United States nor national economic renewal; they are concerned with making a profit for shareholders. The U.S. Government, and especially the President of the United States is supposed to be setting economic parameters of advantage to the people and not stand idly by as President Obama waiting for The Street to begin employing Americans in good paying jobs and just deficit spending to in the meanwhile.

With the aloof prosperous investors in China and elsewhere overseas agitating perennially for tax cuts and the Democrat Party led by comfortable millionaires without any concept of economic reform (only increasing taxes on the rich minority but not on the middle class) there are few immediate, evident prospects for ending the inertia of a slumping nation. Basic American reforms to limit the scale of corporations and collectives is not on the political radar screen, and politicians and business people seem to live in a fantasy world regarding the decline of the world environment, basically ignoring it.