There is little doubt that the U.S. economy is running toward being a second place leader in the economy. While we haggle and engage in brutal politics the world is starting to pass us by. We could pass around the blame but we are all partly at fault for letting reason and reasonableness pass us by in an effort to score ideological points. Harvard's report highlights the fall out from political infighting and the inability to come up with strong solutions. They propose an 8 point plan for government to work on.
Americans are making less money than before and are fed up with the political immaturity that hasn't gotten anything done. Business leaders are somewhat pessimistic over the economy for the next few years and don't feel their prospects are likely to grow. They are ready to invest but just need the right environment to make things happen and that means getting government on board to change.
While the U.S. economy retains critical strengths in areas such as communications, firm management, and innovation is does suffer under poor early education, weak transportation infrastructure, a diseased healthcare system, the tax code and the U.S. Politics. We don't seem to be in alignment on how to fix these issues.
At this point we have to rethink how we do things from a political and economic standpoint.
They have an 8 point plan which includes:
1 Simplify the corporate tax code with lower statutory rates and no loopholes
2 Move to a territorial tax system like all other leading nations
3 Ease the immigration of highly skilled individuals
4 Aggressively address distortions and abuses in the international trading system 5 Improve logistics, communications, and energy infrastructure
6 Simplify and streamline regulation
7 Create a sustainable federal budget, including reform of entitlements
8 Responsibly develop America’s unconventional energy advantage
You can review the report yourself below