I recently read an article on CNN.com that said economists are worried that the United States is headed toward a "lost decade," similar to what was experienced in Japan in the 1990s. This term refers to a decade of stagnant economic growth and poor employment numbers. If the upcoming decade, 2010-2020, is at risk of being a "lost decade," what should we call the past 10 years in this country?

Between March 2000 and March 2010, the private sector lost 3.3 million jobs. The Dow Jones Industrial Average was 10,921 for the week of March 27, 2000. For the week of March 29, 2010, the DJIA stood at 10,927, a 10-year gain of 6 points. There were some areas that grew during this 10-year period.  Government employment  increased by nearly 1.8 million, and the national debt grew by $8 trillion. Unfortunately, these are not the areas we need to see grow in order for our economy to regain its strength.

One bright spot over this time period was a growth in GDP from 9.8 trillion in 2000 to a projected 14.8 trillion in 2010, an increase of over 4 trillion. If the past 10 years was to qualify as a 'lost decade,' we would have seen this number hold steady at current levels. So perhaps we should call the decade from 2000-2010 a "wasted decade," one in which we saw private sector employment gains wiped out in one fell swoop, and one in which we saw the federal debt increase at a rate that should scare even the most hardened observer.

If you listen to politicians, you hear plenty of people willing to place blame. People on the left say the Bush tax cuts, Medicare expansion, and the unfunded wars in Afghanistan and Iraq are to blame. People on the right blame Democrats for expanding the government and increasing entitlement programs. At this time, Americans need to raise their voices and say "I DON'T CARE WHO WAS TO BLAME!!!" Until we invent time travel, there is no way to go back and change anything that has happened. The only thing our leaders can do is make changes to improve our country in the future. Most of us have either directly or through friends and family members felt the negative effects of the "wasted decade." If the next 10 years has the potential to be even worse, we have to demand that our elected officials be willing to put aside politics, partisan bickering and polling numbers, and make the difficult and necessary changes to get our country back on its feet.