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Except the US public debt requires growth to stop a very nasty hard landing when it comes home to roost. The article's assertion that economic freedom is tied t
by cmdkeen 13y ago
Except the US public debt requires growth to stop a very nasty hard landing when it comes home to roost. The article's assertion that economic freedom is tied to economic growth should cause worry in that regard. Germany and Sweden have anaemic 0.7% GDP growth for the year, Japan is at the end of a lost decade where there have been significant economic consequences.
It isn't about what the quality of life will be like tomorrow or next year, it's the consequences a decade hence.
Those countries all have significantly better social security safety nets. The US does not because it is supposed to be economically successful for the majority, if that ceases to be the case things like a lack of public healthcare is going to become a significant problem.