The United States will become less wealthy every year for the next decade

It is positively incredible to watch but no one has a clue what they are doing wrong. From Drudge today, but not major issues, just part of the news:


SURVEY: 40% of unemployed have quit looking for jobs…

109,930,090 Americans on Federal Food Assistance…

The first story, for which the underlying story is titled, “For Many American States, It’s Like the Recession Never Ended”, begins:

Six years after the recession ended, many U.S. states are hard pressed to balance budgets because of a sluggish recovery and their own policy decisions. The fiscal fragility raises questions about how they will weather the next economic downturn.

A majority of states are making cuts, tapping reserves or facing shortfalls despite an improving national economy and stock markets at record levels, according to Standard & Poors and the Nelson A. Rockefeller Institute of Government. State revenue hasn’t rebounded to a prerecession peak adjusted for inflation, and other factors are putting pressure on budgets.

The United States is going backward, but because it depends on various forms of Keynesian analysis to explain economic situation to itself, cannot even understand that the reason things are getting worse is because of the economic policies they are using to repair the damage.

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