Under Obama’s leadership, the United States has now dropped to #7 in global competitiveness.
This represents the fourth year in a row that the US has been downgraded. The US was #1 before Obama assumed power. Can you imagine what another four years of Obama will be like for our economy and standard of living?
Having placed fifth last year and first in 2008 before Obama assumed power, the U.S. economy continued its downward spiral, slipping to an embarrassing seventh place in the most recent 2012-2013 rankings.
American economy’s sharp decline in recent years is due to, among other problems, a lack of trust in government and politicians — especially by businesses — as well as declining macroeconomic and political stability. More important to the latest drop in the rankings this year, however: increasing fears over the U.S. economy’s fiscal health as the federal government continues to borrow more than a trillion dollars per year with no end in sight.