Four deficits gave birth to the book and movie I.O.U.S.A, namely, the leadership, trade, savings and the fiscal deficits. Following the releases of the I.O.U.S.A. book/movie, the better financed special interest groups caused the fiscal commission to become a reality, leaving the remaining three deficits, most relevant to the middle-class, to fall by the wayside. These 3 middle-class-relevant deficits, namely the leadership, trade and savings deficits are most causal to our current economic plight, while the fiscal deficit is primarily the result (effect) of the first three. I.O.U.S.A. treatment of the trade deficit was framed in the context of Warren Buffett’s parable Squanderville versus Thriftville. The portion of my post, titled, An America Lost in Squanderville deals with the trade deficit:
The United States’ trade gap is the proverbial “leak-in the-dike” with its de-simulative effect on our recovery. In November 2003, Warren Buffett in his Fortune, Squanderville versus Thriftville article recommended that America adopt a balanced trade model. The fact that advice advocating balance and sustainability, from a sage the caliber of Warren Buffett, could be virtually ignored for over seven years is unfathomable. Media coverage that China has kept it currency undervalued is a gross understatement, it has actually been keeping the U.S. dollar over-valued; which adversely affects all U.S. trade with ALL U.S. trading partners, not just trade with China. Until action is taken on Buffett’s or a similar balanced trade model, America will continue to squander time, treasure and talent in pursuit of an illusionary recovery.

The Leadership deficit can be best addressed with campaign financing reform that really works. The savings deficit can be best addressed with increased productivity, similar to Japan post-WWII economic miracle pioneered by W. Edwards Deming, an American statistician and replacing federal employment and most federal income taxes with a federal consumption tax, like those used by most industrialized countries, except the United States.

The many companies that have breached that trust, have an uphill struggle to regain that trust, particularly when it nearly broke the country and has wrecked the economy.

At least in Technology, you have a feeling that companies are striving hard to genuinely improve the world, rather than greedily financially rape it.