GDP growth, low unemployment, record home ownership, and low interest rates say otherwise Willie.
That's the "illusion of prosperity" that I was talking about.
This lame horse economy is being forced to plod along by beating it with the whip of deficit spending.
All the while our wealth creating industries are being shut down and the American taxpayer is being buried in unfathomable debt.
There is no such thing as a free lunch. Sooner or later, the horse is going to drop dead from the Bush Administration's deliberately irresponsible abuse.
Large Trade Deficit Spells More Difficulties Ahead for US Economy
The state of the economy at the moment is in the eye of the beholder. Current economic measurements are positive, but I am concerned about these questions:
Is our nation's growth in wealth based on the net increase of tangible assets or is it based on manipulated speculation funded by deficit spending?
Does our diminshed manafacturing capacity expose America to being dependent upon the goodwill of other countries for the supply of goods and materials needed to sustain our national defense?
Does the lack of a self sufficent energy policy expose
the economy to ruin through blackmail?
I do not have answers to these questions, but they are
questions that I feel need to be considered in the economic debate.