The basIc assumption of Craig appears wrong to me. His article supposes that there is a global “technically-sound economic system” and the government of the USA is mismanaging because (among others) “there is personal and consumer debt, over import, out sourcing, unemployment and tax reductions”.
My view of the total economic decadence of the USA and of the G-20 since 1929 is due to the fact that the “technically-sound economics” that existed until FDR was duped by Wall Street, is hidden, ignored and annulled by the fraud of Globalization that built the Multinational Corporate Empire and all governments have become colonies managed by lobbyists and corrupted politicians satiated with perks and bribes from the special interests of the Empire. America as the Leader of the G-20 is the champion of the decline of the whole of Humanity and is one of the chieftains in the degradation of the Planet by the barbaric abuse of the industrial aggressors of the Species.
When the Speculators, Bankers, Financiers and Multinationals camouflaged the abandoned “technically-sound economy” (still statutory and legitimate but totally ignored by Bush) Mr. Harrington must not be surprised that all countries are going to hell in the global anarchy of the fraud of Globalization which has nothing economically-sound in their demagogy and is presented as the “only economics” available today to Humanity, which of course, is baloney of blabber-mouth politicians and the corporate media.
TEIC, a group of over 250 Third World research engineers under Canadian Management, established the engineering procedures applicable to a better technically-sound economy (than the one still hidden by the G-20) and several books have been published since 2001, when we copyrighted our work (See www.e-libro.net). All the things that alarm Craig in the free-for-all of Globalization can be easily corrected with Scientific Human Economics, which has been offered to President Obama (through Mr. David Axelrod and Ms. Vivian Jarret) without any response from his Senior Advisors.
Craig Harrington, who must have more pull than me, should talk to Axelrod or Jarret and find out for the readers of this blog to which garbage can have gone the many briefs that TEIC Canada send the President, through the High Offices of Axelrod and Jarret.

Jorge Torrealba, P.Eng. (Retired), Director General, TEIC Canada,
human.economics@ns.sympatico.ca
www.e-libro.net ( Counterattack, How Man Must Use Scientific Human Economics and Morbid Canadian Politics available in this site)