I have seen the I.O.U.S.A videos on youtube.com. They are nice videos to explain "the economics of the US problems" to a common man. And the most striking point it made is the Leadership deficit, which is the larger problem than the Savings or Trade deficits of US.
So, I was rewinding the last few years in my mind and the leaders who presided the White House. Each one of them is just a politician and the actual person who heads Treasury is a former Wall Street honcho. So, there is a clear gap of leadership to steer the massive US economy safely. Comparing with only India may be a narrow argument, but has a logic to it. Our central banks were headed by economists who held their primary duty of economic stability, improving the standards our financial system and who have written hard rules, which only proved to save us when the whole world was sinking in 2008.
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