Economists like Paul Krugman have claimed that practice of austerity in government would damage the US economy. As Mark Thornton points out, the opposite is true: austerity works.
America's military technocrats (a.k.a. "generals") specialize in losing wars and also losing your money. Naturally, Congress wants to give them even more taxpayer cash.
The Pilgrims tried socialism at Plymouth. After two years, they returned to private enterprise. Likewise, Israel was founded as a socialist state but has back turned toward free markets.
For all the positive talk, Americans are piling on more debt just as real wages are falling, job losses are mounting, and debt costs are rising. Thanks, Fed!
