Kleiner Perkins venture capitalist Mary Meeker wows the technology business world every year with dazzling presentations on the state of industry.

This year at Web 2.0 summit in San Francisco, she did it again.

The complete slideshow (see above) is insightful as usual, and it goes through the present and foreseeable internet trends, with a particular attention to the mobile phenomenon – she’s been focusing on mobile the past few years.

However, the last part of the presentation is dedicated to USA Inc., a look at the US federal government as if it were a business. As Meeker states in the intro of the original USA Inc. report:

Imagine for a moment that the United States government is a public corporation. Imagine that its management structure, fiscal performance, and budget are all up for review. Now imagine that you’re a shareholder in USA Inc. How do you feel about your investment? — Mary Meeker USA Inc. Report, Feb. 2011

Well, looking at slide 60, If I were an American citizen, I would not feel good at all.

How to fix this issue? Depending on the solutions, we will have very different social and economic situations.

And, probably, a new U.S. president.