I was recently introduced to Charles Rowley’s blog, yet another George Mason University professor.
Here’s a nice paragraph from a recent post:
The reason why the United States economy is in such a current low growth situation is because its government and its citizens developed unsustainable appetites for consuming more than they earned. September 2008 was the justifiable consequence of such profligate behavior. U.S. citizens learned their lesson the hard way and are now saving to find a sustainable route out of personal indebtedness. The U.S. government, with the unfailing support of its Treasury Secretary, is fighting against this endeavor every inch of the way. For every dollar that private citizens save, their wretched government dissaves in multiple numbers.
This is a great way to frame what’s going on.