The dysfunction of the American political system is now sapping confidence from businesses and families. It may be the single biggest hurdle standing in the way of the nation’s prosperity.

American_Flag_Distressed_SmallBarack Obama said it himself in his first post-election press conference. Speaking at the White House on November 14, Obama said conversations with families, workers and small business owners along the campaign trail had left him convinced that average Americans deserved more from Washington.

“When you talk to these folks,” Obama said, “you say to yourself, ‘Man, they deserve a better government than they’ve been getting.'”

Exactly.

As 2012 comes to a close, partisanship is slowing our economy, making our children unsafe and reducing our confidence in the future. In 2008, egregious behavior by bankers and regulators could be blamed for gutting the economy. In the 1970s, high union wages could be blamed for reducing the competitiveness of American industry. Today, our political dysfunction is our biggest economic and social liability.

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Source: David Rohde | The Atlantic | December 29, 2012