Published Thursday, October 04, 2012
The World Economic Forum, an independent international organization based in Switzerland and committed to the improvement of the world economy, recently issued its annual Global Competitiveness Report, which ranks over 100 nations on the strength of their economies.
During the eight years of the Bush Administration, the United States ranked first in 2002, 2003, 2005, 2007 and 2008. In September 2009, eight months into the current administration, the United States slipped to second. In 2010, we fell to fourth. In 2011, we slipped to fifth. This year, we ranked seventh. That represents a steady decline in every year of the current administration.
The World Economic Forum is not a group of Republicans trying to make the president look bad. It is an international organization that represents what the world thinks of each country’s economic strength.
The trend illustrated in the WEF reports is the most telling indication yet that the current administration’s economic policies are not solving our economic problems. Obviously, the rest of the world has already recognized this.
Many voters cast their ballot for president based on the candidate’s stand on abortion, or gay rights, or the environment, or whatever pet cause they may have. But if this country ends up in a depression, none of that will matter. All of the government’s resources will be exhausted just trying to keep everyone fed and sheltered. The economy is the most important issue we need to consider in this election.
We may not like what Mr. Romney did at Bain Capital. But I, for one, would rather have someone who understands economic forces well enough to make a fortune in business than someone who, for the past four years, has been leading the country toward economic disaster.
Martin George, Newnan