Will America's economic dominance have progressed or regressed after Bush's 8 year presidency?

Question

Why do you feel your answer is correct?

Answer 1

America's economic dominance? Are you kidding with this question?

We have a zero savings rate in this country. In fact, we spend more than we make on average. Plus we have an enormous negative trade balance. Which all means that more of our money is leaving the country than being put to work here.

Money is coming back from abroad in the form of foreign investment - specifically the Chinese purchasing T-bills (US government debt) putting us more and more indebted to foreign governments who can now literally buy and sell us. If they ever stop buying our debt or become concerned that we'll have trouble paying our debt, interest rates in the US will explode upwards, leaving behind economis wreckage.

America's economic dominance is a myth.

Answer 2

America has a strong economy and the weaker dollar has halved the trade deficit. (Proving that the world doesn't "hate America" since they can't buy enough American goods.)

But when China taps the artificial caps off the yuan and opens their currency to international investors the dollar, yen and the euro are in the toilet. That is why the Fed wants China to do it now while the economy is strong enough to resist a depression and the dollar is low enough that it has less to fall.

The global economy changed in the 1990s and continues to today. There is no one dominant currency like before. Even when China opens it's currency there are enough other world class economies and growing economies so the effect will be dilluted. The global economy started the "decline" of the dollar as the premier currency and one of the few economic powerhouses, Bush's presidency has had little effect on that.

Answer 3

Considering that the US Dollar has dropped in value significantly and is in serious danger of losing out to the Euro as the predominant currency of the world - I'd say thats a pretty good indicator the US is losing the economic high ground.

Answer 4

Regressed, enemies such as Saudi Arabia and China now hold huge amounts of our debt......

Answer 5

if u ask them they will give u a bunch of unrelated jibberish statistics about how the economy is so much better and stronger ... but the purchasing power of the dollar in my pocket continues to decline ...

Answer 6

Unless we have another attack during his last term, it will have progressed. The economy is smokin', and with any luck will continue on this course.