Debtor Nation

Consumerism is as American as cherry pie. Plasma TVs, iPods, granite countertops: you name it, we'll buy it. To finance the national pastime, Americans have been borrowing from abroad on an increasingly stunning scale. In 2006, the infusion of foreign cash required to close the gap between American incomes and consumption reached nearly 7 percent of gross domestic product (GDP), leaving the United States with a deficit in its current account (an annual ... Full Story »

Posted by Kaizar Campwala

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Donald Benfield
5.0
by Donald Benfield - Oct. 1, 2008

Very good article. Lays out the case for what I've been saying for years about the news media forgetting it's mission to educate as well as inform.

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Donald's Rating

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5.0

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