The economy is growing we keep hearing yet the nation as a whole has a savings rate .What gives?Are we Americans simply living large with reckless abandon towards the future?
Maybe a few Americans are living large with no forward plan but quite frankly that would be a small segment.What is going on here is the usual smoke and mirror Reaganomic driven good tidings.The G.N.P. is based on capital.The spending and savings numbers are based on wages.Wages are stagnant yet the average prescription has gone from $11.00 to $54.00 in the last 5 years.That's just one item factor in oil,gas and the impact they have on our wages and now you can see through the smoke and then mirror most American's real wages and the good tiding from Wall Street and our Administration proclaiming how good the economy is.It is good if your already in a position to save BUT if your an average American your donating to the capital gains at the great strainings of your earnings.So it is true if you are Bush's base but the rest of Americans can eat the cake crumbs and like it.