The U.S. economy is losing its global competitiveness due to the following policy errors:
1. High Taxes and Labor Unions are making manufacturing uncompetitive in the global market, resulting in a shift of the economy towards more driven by service & consumption. Engineering jobs are now replaced with sales and customer service agents, making science, math, and engineering unattractive subjects in college.
2. Stringent immigration laws are driving science, math, and engineering foreigners trained in U.S. universities (often on a full scholarship) back to where they come from, helping those emerging economies to compete with the U.S. economy.
3. Loose & government rigged monetary policies fuels high profits in the financial industry. Attracting the best minds in the country to the business of money shuffling and casino banking.
4. Expansion of government and government sponsored industries are crowding out talents, credit, and profits for the private sector.