As our nation and the entire world breathes a collective sigh of relief that the United States will not default on its debts for the moment, one must wonder if the world’s only superpower, has earned a new moniker, Procrastination Nation.
The dictionary definition of procrastination is:
To postpone or delay needlessly.
As James Surowiecki wrote in his article aptly entitled, Later, a few years ago in the New Yorker,
the percentage of people who admitted to difficulties with procrastination quadrupled between 1978 and 2002. In that light, it’s possible to see procrastination as the quintessential modern problem.
The question is whether our federal government should be modeling such behavior when it is so remarkably unproductive. Indeed, Surowiecki goes on to point out that,
Each year, Americans waste hundreds of millions of dollars because they don’t file their taxes on time. The Harvard economist David Laibson has shown that American workers have forgone huge amounts of money in matching 401(k) contributions because they never got around to signing up for a retirement plan. Seventy per cent of patients suffering from glaucoma risk blindness because they don’t use their eyedrops regularly. Procrastination also inflicts major costs on businesses and governments.
Indeed, this current federal shutdown has cost the nation billions and its full cost has not been totaled yet. As the New York Times reports,
The two-week shutdown has trimmed about 0.3 percentage point from fourth-quarter growth, or about $12 billion, the forecasting firm Macroeconomic Advisers, based in St. Louis, recently estimated. Standard & Poor’s is more pessimistic, estimating that the shutdown will cut about 0.6 percent off inflation-adjusted gross domestic product, equivalent to $24 billion.
It would be one thing if the current Congressional dysfunction was a one-time rare occurrence, but sadly it has become a pattern of procrastination causing long-term economic harm, in addition to loss of standing in the world. A new report, The Cost of Crisis-Driven Fiscal Policy. This report concludes that,
Since late 2009, fiscal policy uncertainty has…lowered GDP growth by 0.3 percentage points per year, and raised the unemployment rate in 2013 by 0.6 percentage points, equivalent to 900,000 lost jobs.
Very few good decisions are made by panic. As a nation we can do better. We must do better unless we want the whole world to just consider us the, Procrastination Nation.
- Real statesmen who are genuinely want to govern for the common good, not just pressmen seeking to take temporary advantage of the next sound bite;
- Consensus Driven Leadership instead of a divide and conquer mentality; and
- The collective will to Get to Yes, rather than constant bickering and fighting.
It is clearly easier said than done, but voters must demand it, or our nation will continue to suffer the ignominy of being known as a second rate Procrastination Nation.