video: econ prof says ‘no way forward for US‘
from press tv: The US president is incapable of coping with the changing world, brought along by ignorance of its own internal welfare, a professor of binary economics says, describing the situation as a “tragedy” for Americans. “President Obama’s foreign policy is bankrupt and his domestic policy is bankrupt as well,” said Rodney Shakespeare, adding, “I regret to say that America has lost its way domestically in exactly the same way as it has lost its way in foreign policy.”
Shakespeare told Press TV that the problems in America’s domestic policy lie in the country’s housing crisis, enormous deficit, and high unemployment rate. Last year, over 46 million people were counted as poor in the United States, the largest number of persons counted in half a century. The US public debt is in excess of USD 13.7 trillion and growing, while the total public and private debt is nearly USD 55 trillion– 3.5 times GDP, figures showed.
In foreign policy issues, Shakespeare said, “[America] has been supporting totalitarian, torturing regimes. It supports regimes that are anti-democratic. It was taken surprised by the Tunisian revolution…In respect to Egypt, it is now coming out and making it quite clear that it wants a military crack-down.”
Shakespeare went on to say that Obama is dealing with a gamut of problems trying to overcome domestic and foreign policy issues, including those of a polarized bipartisan split in the House of Representatives and turmoil in friendly, authoritarian Arab countries. Two years into his presidency, Obama has failed to deliver on a significant number of his campaign slogans including to upend the lobbying culture in Washington, ending the Iraq war, stabilizing Afghanistan, bolstering the US economy, and bringing transparency to Washington, he added.
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