In a very weak economy when you say ‘cut government spending’ what you mean is you’re laying off school teachers and you’re de-funding various programs that put money into the economy. This means you have more unemployed people that then draw unemployment benefits and don’t pay taxes.
The great drama of Russian history has been between its state and society. Put simply Russia has always had too much state and not enough society.
The American dream seems to be thriving in Europe not at home.
Politics and power is a realm of relative influence.
What we see today is an American economy that has boomed because of policies and developments of the 1950s and ’60s: the interstate-highway system massive funding for science and technology a public-education system that was the envy of the world and generous immigration policies.
Americans have so far put up with inequality because they felt they could change their status. They didn’t mind others being rich as long as they had a path to move up as well. The American Dream is all about social mobility in a sense – the idea that anyone can make it.
The technological revolution at home makes it much easier for computers to do our work.
America’s growth historically has been fueled mostly by investment education productivity innovation and immigration. The one thing that doesn’t seem to have anything to do with America’s growth rate is a brutal work schedule.
I enjoy writing but I much prefer the experience of having written.
Having your fiscal house in order and having a more manageable macro-economic future is going to be very useful in creating growth.