CIA Fact Book Overview of USA
The CIA fact book gives a most interesting overview of the USA as well as for just about every nation on earth.
In identifying current US challenges the CIA fact book states that “Soaring oil prices in 2005-2007 threatened inflation and unemployment, yet the economy continued to grow through year-end 2007. Imported oil accounts for about two-thirds of US consumption. Long-term problems include inadequate investment in economic infrastructure, rapidly rising medical and pension costs of an aging population, sizable trade and budget deficits, and stagnation of family income in the lower economic groups. The merchandise trade deficit reached a record $847 billion in 2007. Together, these problems caused a marked reduction in the value and status of the dollar worldwide in 2007.”
The USA fact book summery pages still lists America as the world’s richest country. This is still true for individual countries although the European Union community is now larger than the US in total GDP, the output of goods and services, which would place the EU in the top spot. China is number three and closing the gap fast.
Else where the CIA fact book it notes that the “US has the largest and most technologically powerful economy in the world, with a per capita GDP of $45,700. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace.
US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals’ home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II.
The onrush of technology largely explains the gradual development of a “two-tier labor market” in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households.”
What isn’t said is that the US has already experienced a hollowing out of its manufacturing sector as companies have moved production facilities overseas in order to save expenses. The world is more competitive than ever and the US government must put together some long term growth plans for the US and the home folks or we will be pushed off the nation mountain top by China and other nations, like the EU countries, over the next decade or two.
We need enlightened capable leadership as never before in order to stay at or at least close to the top of the prosperity heap. It is not encouraging when you see the pettiness of the candidates for president as they go about their campaigns.
We need someone like Ron Paul but the establishment “shadow government” figures behind the scenes will never allow a Ron Paul to become president. A man like Paul would be too much of a threat to their selfish self interests.
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