People Who Are Destroying The Global Economy

Bangalore: It would wrong on our part if we say that these people are destroying the world. But even this can’t be ignored that the decisions taken by them are actually hampering the economy. Policy paralysis is a major contributor to the ongoing global economic depression. Though these people are not accused of acting badly, but in pursuing certain interests, the net effect is that the world can't get on the right path.

Barrack Obama, U.S. President

The 44th President of the United States Barrack Obama inherited a historically bad economy. He made more than a few mistakes along the way that made it worse than it had to be. Initially; the initial stimulus package was not large enough. Whether he misjudged the depth of the crisis, or overestimated his ability to pass more stimuli later, he missed a chance to cut down the depression. Now declining public sector spending is holding back an economy that can ill afford additional headwinds. Some of the President's policies contribute to the deadlock we're seeing. Termination of the Bush Tax cuts, even for those with incomes of more than $250,000 is pretty much a non starter for the President's political opponents. Persevering inflexibly on that position will only help ensure nothing. President Obama followed debt reduction and compromise even when it was clear that it was impossible and the wrong policy decision. Our political leaders borrow ever more money to pay off the banks, which return the favor by lending ever more money back to our governments.