capitalgainsandgames.com - 12/27/2008
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Mark Landler makes a number of good points in his New York Times article , "Chinese Helped Inflate American Bubble," but he leaves out the most important one. The U.S. government, on behalf of U.S. citizens, decided to run budget deficits during a fiscal expansion. U.S. consumers decided to ...
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Andrew Samwick Judges the Bush Administration
J. Bradford DeLong's Grasping Reality with All Eight Tentacles —
... Repeat After Me: We Are Responsible for Our Own Mistakes: Mark Landler makes a number of good points in his New York Times article, "Chinese Helped Inflate American Bubble," but he leaves out the most important one. The U.S. government, on behalf of U.S. citizens, decided to run budget deficits during a fiscal expansion. U.S. consumers decided to use their lower tax burden during the last eight years to spend rather than save. No one else can be held responsible for those decisions. ...
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