There was a lot of hoopla on the Dixie thread recently about how great the American economy is performing and how great things are economically speaking under Bush. And as Dixie so presciently noted he is responsible for the good things and the bad things to some degree. And since Bush did instigate the war with Iraq for no good reason and spent nearly 6 months selling that war to the American people and our allies, it is only fair that he reap the results of that war and what it has done to America’s financial rankings around the world. Most are ignoring the larger picture though and continue to laud Bush’s handling of the American economy. Some even going so far to say that this economy and the Dow are now on a much stronger footing than they were under Clinton. And with Trent Lott out trumpeting "irrational exuberance" and claiming that people should be exercising such exuberance in their stock purchases now and in the coming months, on FOXSPEWS’ Cavuto show last night, it is clear that at least some of this belief that things are different now is not as well-founded as it might be. But this headline seems to run counter to the Bush supporters claims about just how great things are in America economically speaking now and may even undercut some of their more exuberant if not irrational claims.
World Economic Forum Survey Says U.S. Fell in Economic Competitiveness Ranking From 1st to 6th
By BRADLEY S. KLAPPER
THE ASSOCIATED PRESS
September 27, 2006
GENEVA — U.S. economic competitiveness fell significantly over the last year, as high budget and trade deficits hurt America's business environment, according to a survey released yesterday by the World Economic Forum.
The disappointing response to Hurricane Katrina, government corruption and a decreasing talent pool for employment due to immigration restrictions were other factors cited by the forum, which moved the United States to sixth in its "global competitiveness index" from the top spot a year ago.
"While strengths in the technological and market efficiency sectors explain the country's overall high rank, the U.S. economy suffers from striking weaknesses," the report said. "There is significant risk to both the country's overall competitiveness and, given the relative size of the U.S., the future of the global economy."
Switzerland topped the poll, which was conducted for the 27th consecutive year, but only the second year using a new formula, the forum said.
More than 11,000 business leaders in 125 countries took part in the survey, which found that the Alpine nation's institutional environment, infrastructure, efficient markets and high levels of innovation made it the world's most competitive business environment. It ranked fourth a year ago.
Nordic countries took the next three places, with Finland, Sweden and Denmark all praised for running budget surpluses and having low levels of public debt. Singapore was fifth ahead of the United States. Rounding out the top 10 were Japan, Germany, Netherlands and Britain.
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World Economic Forum Survey Says U.S. Fell in Economic Competitiveness Ranking From 1st to 6th
By BRADLEY S. KLAPPER
THE ASSOCIATED PRESS
September 27, 2006
GENEVA — U.S. economic competitiveness fell significantly over the last year, as high budget and trade deficits hurt America's business environment, according to a survey released yesterday by the World Economic Forum.
The disappointing response to Hurricane Katrina, government corruption and a decreasing talent pool for employment due to immigration restrictions were other factors cited by the forum, which moved the United States to sixth in its "global competitiveness index" from the top spot a year ago.
"While strengths in the technological and market efficiency sectors explain the country's overall high rank, the U.S. economy suffers from striking weaknesses," the report said. "There is significant risk to both the country's overall competitiveness and, given the relative size of the U.S., the future of the global economy."
Switzerland topped the poll, which was conducted for the 27th consecutive year, but only the second year using a new formula, the forum said.
More than 11,000 business leaders in 125 countries took part in the survey, which found that the Alpine nation's institutional environment, infrastructure, efficient markets and high levels of innovation made it the world's most competitive business environment. It ranked fourth a year ago.
Nordic countries took the next three places, with Finland, Sweden and Denmark all praised for running budget surpluses and having low levels of public debt. Singapore was fifth ahead of the United States. Rounding out the top 10 were Japan, Germany, Netherlands and Britain.
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