There has been a premise in politics over the decades that Americans have had a limited amount of money to spend. That no longer is true. In recent days, we have learned that the US has spent more on this Iraq/Afgan war than on anything ever before, and we are not being asked to raise taxes. The dollar is at an all time low against other currencies but it doesn't seem to hurt the US economy. Interest rates are not going up. There is actually deflation in prices (homes), rather than inflation (except for gasoline, due to overseas inflation). Unemployment is low and steady. This extreme spending without consequese demonstrates there is really no need to make a choice on what to spend the money on, since we can apparantly afford both guns and butter. What are your thoughts?
2007-11-24
15:42:48
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