Will the next President of USA solve the Black box mystery and end the Black hole theory?

The Republican and Democratic conventions are over and we all heard the candidates, party representatives, and their spouse vouch for them at the convection. And sadly neither of them was close to understanding the economic situation and prescribing long-term remedies to pull the nation out of the debt trap, add jobs to the economy, restart the stalled economic engine and come up with plans to fund and sustain social security for the retired and Medicaid for elderly.

Both candidates were seen prescribing OTC “Paracetamol” for something as serious as “Cancer” and they were feeding sugary candies to the hungry nation. And both candidates were seen engaging in a convenient ideology debate more than presenting their detailed plans to manage deficits and revive the economy.  

Do these candidates understand their job? Do they have necessary experience and competency to take on the role? Is the nation failing to communicate their needs to the candidates? Have these candidates lost their hearing or lost touch with reality? Are the economists failing understand the economic engine and educate the President? Is the process of electing the President and running the nation flawed? Can’t we use the principles of Capitalism to effectively and efficiently run the machinery of Democracy? One is left with a volley of questions and a one word answer “inconclusive.”

Do these candidates understand their job?

This is the most fundamental question one needs to ask the candidate. And from their nomination acceptance speeches and their plans, both seem to have no clue about their roles. Neither of the candidates was sure how they were going to approach the ever growing mountain of debt, bring back life into the ailing economy and create long-term job opportunities to sustain growth and leadership.

Michelle Obama at the DNC last week narrated a story about her personal struggles, ailing father, mountain of student loan, and how she and her husband started their life together with love and loan. She was brilliant in narrating the story of love and student loan (totals up to 1 trillion dollars) that runs across every home in America, connecting with the audience, making them tear and taking home claps and votes. She even promised that her husband, if voted back to power, will reduce the interest on student loans.

But does she understand that the real problem in America is not the interest on student loans, but the lack of jobs for graduating students and their ability to pay back the student loan. The current economic situation has made the opportunity cost of going to college more expensive than staying out of college and being unemployed. May be the First Lady is not supposed to understand?

Michelle was trying hard to convince the voters that she and Obama came from lower middle class backgrounds and through hard work were able to pay back their debts, and wanted to extend the same logic and convince the nation that Obama will reduce the deficit and help people pay back their debt. This sounds more like a fairy-tale and a plot for a Hollywood movie more than pitch for a Presidential candidate and a plan for an economic fix.

Read the Presidential candidate speeches: Obama Transcript, Romney Transcript

Do they have necessary experience and competency to take on the role?

From being a million dollar question, who needs to take the driver’s seat has now gone to being trillions of dollars debt trap. The seat of the President is the most important seat of power and determines the fate of the nation and people for four years and many at times it takes years to undo the effects of flawed policies and wronged decisions. And every time the parties announce their candidate, nobody ever asks if the candidate understands the plaguing economic issues and is skilled to run, control, and drive economic engine forward. Isn’t that a fundamental and logical approach to recruiting someone for any job?

When Bill Clinton stepped down after two consecutive terms as the President he left the US treasury with no debt and eight years of George Bush and his decision to start multiple wars was enough to leave the country mired in trillions of dollars of debt and cripple the economic engine.

Every candidate announces popular schemes, slew of entitlements and play race politics to win over the popular votes without understanding the role of the President. They announce schemes without looking at the deficit and neither the candidates nor the public understand the long-term effects and repercussions of such scheming policies and entitlements. Is it myopia or lack of understanding of economic principles by the candidates or stupid faith held by the public? Whose judgment is flawed?

Atleast President Obama has a 4 year experience of sitting in the seat of power, facing the heat and questions from the nation, pulling the automakers and Banking sector out of the worst ever crisis,  and constantly trying tricks to reduce unemployment and improve manufacturing index, while Mitt Romney only has track record of outsourcing jobs overseas.  

Is the process of electing the President and running the nation flawed?

The President of United States is not directly elected by the people, but the Electoral College. Corporations and the richy-rich fund election campaigns with an unsigned commitment and unspoken understanding of benefitting from party that wins. As a result, the candidate who assumes of the office of President has more favors to return the Corporate than duties to service the nation. At the end of the four year term, the principles of democracy and office of President seems to have no science or no logic to its operation. Presidents have been finishing their term and getting away paying no penalty for their non-performance and incompetency. The Presidential race seems like the “Game of Throne” and democracy appears to be the “Game of Favor”. Isn’t it time to use the principles of Capitalism to effectively and efficiently re-wire democratic and economic machinery?

Is the economic machine a black box or a black hole?

The President usually handpicks and surrounds him with the best brains in science, economics, foreign policy, health-care, manufacturing, etc. yet they all fail to come up with a formula that will drive the economic engine across the finish line of promises, reduce economic debt, and magically add jobs. Are the President’s promises tall? Are the principles of macroeconomics difficult to apply, predict, control, adjust, and maneuver the economic machine? Is the team of advisors incompetent or is the science of economics faulty? Do principles of science govern the economic machinery? Is there a scientific answer to the game of fame and blame?

The economic machine is a black-box for the economist, voters, media and the President and it gives everyone an opportunity to publish their theories and make their tall claims and false promises every four years. In reality, no one knows really knows who has been the best President and whose decisions and policies have helped the nation progress. How much of it is luck, science and prudence can be argued till cows come home.

For the people the economic engine seems to be a black home. When one of the recent survey questions on the economy asked people if they felt they were better off from years ago, 79% answered “the same” or “worse”. And nobody has an idea as to where the economy is headed and will it ever head north?  

Doesn’t matter if the Republicans or Democrats came to power, until the mystery of the black box is solved, until the right candidate takes the seat, and until the economic machinery is run along the principles of science governed by efficiency and competency, we will continue to see Presidential candidates promise milk and honey flow in America, and economic crises will reappear like a common cold and do damage that of cancer.

Will the 45^th President of the United States of America be any different? Is this election a choice between the devil and the deep blue sea? Will America ever climb out of the debt trap and get back on the throne of being the most powerful, influential and respected among all nations? So try to find your answers before you go to the polling booths, go with hope, but don’t carry the cross of expectations on your back!