So Much For Thrift

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Heck -- I misspelled "student," for heaven's sake! That's what I get for thinking it's my RIGHT for my computer to fix any typos I make!!! ;-)

Mekhong Kurt 10:28AM January 24, 2010

Here I taught English, and misspelled "student!!!" That's what I get for not PROOFreading first! (But I thought it was my RIGHT that my computer atofix any typos I make!!! It's in the Constitution, ain't it???)

Mekhong Kurt 10:25AM January 24, 2010

Anthony of PA: Maybe you're being a bit overly harsh on Muser in NM, though I do agree with your fundamental premise. And that's from someone who supports a BASIC public option -- OPTION, not sole provider. (I'm not interested in bankrupting insurers and/or health-care providers; I am interested in them looking beyond the next quarter's earnings first and foremost -- no, make that "only," not "foremost.")

It *is* an ingrained sense of entitlement. I happen to live abroad, and I cringe when a fellow American gets into a quarrel with a local -- especially a police or immigration officer -- and shouts, "I know my RIGHTS! I'm AMERICAN!!!"

Similarly, unless the Founding Fathers reworded the Constitution but that change didn't make it into the final document, I believe it says we have a right to "life, liberty, and the PURSUIT of happiness" -- not the guarantee we will definitely attain happiness.

But that's what we seem to expect. The "right" to a home several times larger than we reasonably need. Annual vacations in exotic locations. A job. (I know that's touchy right now. I'd like to re-enter the workforce, too, and am having a rough time of it -- but I don't view a job as my "right.") A protected job with extensive benefits, including regular raises.

It reminds me of a university freshman sutdent in an English class I taught. He had a weak high-school background, and was struggling with his term paper. I marked up his rough draft extensively -- not to overwhelm him with red ink, but recognizing the poor guy needed all the help he could get. He met me for a conference, and we spent a good hour-plus going over his paper in detail. He slumped back in his chair, clearly (and understandably) distressed, and demanded, "Fix it!" Taken aback, I said, "Wha-a-a-t?" He repeated himself: "FIX IT! You're my teacher and THAT'S MY RIGHT!"

I guess he thought the Constitution covered his grades, and education, too.

Counting all levels of taxes, I pay about 40%, including, of course, for public programs such as welfare, bank/auto maker bailouts, etc. And I really don't mind helping the truly needy. Not even companies, when they're in trouble through no fault of their own, at least not necessarily (especially the little ones).

But I do mind, mightily, the argument that *I* ought to finance someone *else's* notion of his or her "rights" to a free ride.

I'm not poor, but I'm not wealthy by any stretch, either. I imagine, Anthony, you feel as I do: "Stop looking at me as if my mouth is a slot for an ATM machine."

Mekhong Kurt 10:22AM January 24, 2010

Maybe "personal saving" is down because many are unemployed. Unemployed folks tend to spend their savings (on such things as groceries, car payments and rent/mortgage).

thinker, not a fighter of IL 8:51PM November 08, 2009

Muser of NM: Just 'musing' on your posting... A "strong public option" is not the solution to all economic problems. Stop fawning over Obama's BS rhetoric and engage a few brain cells in your musing. How do you think it will be paid for? Free healthcare for all is not "free".

This may come as a suprise to you, but healthcare does not drive the economy. Healthcare is not the reason Americans entered into sub-prime mortgages. Healthcare is not the reason Americans spend more than they make. Healthcare is an issue, but Obama's proposal is not the correct solution.

Your solution to the ecomonic problems facing America is to cease all printing of money and simultaneously raise interest rates (to some "reasonable" level... reasonable for whom?). This shows a remarkable lack of understanding of the U.S. economy.

You are missing the point of the entire article. Americans are infected with a feeling of entitlement to 'the good life' and feel a compulsion to 'keep up with the Joneses'. While being thrifty was in vogue for a while, Americans will not break the habit so easily.

Please try to post intelligent and well thought out comments...

Anthony of PA 2:33AM October 20, 2009

A "consumer-driven" economy cannot grow much if everybody is saving enough to catch up from the spending excesses of the recent past.

The recession is not "over" until the Fed and other central banks stop printing money, restore interest rates to reasonable levels AND THE ECONOMY DOES NOT RE-CRASH as a result of those two actions.

Few people in the lower four-fifths of the country can out-save the increases in their current and, more importantly, FUTURE, health care costs---unless significant reform is enacted to actually stop the rise of the costs. A very strong public option leading toward single-payer is the ONLY way you get to that.

Few people in the lower four-fifths of the country can out-save the long-term trend of reductions in their earnings and/or complete loss of their jobs.

Muser of NM 11:53AM October 01, 2009

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Rick Newman

Rick Newman

The global economy is mysterious, even scary. Chief Business Correspondent Rick Newman connects the dots. In addition to his writing for U.S. News, Rick is the co-author of two books: Firefight: Inside the Battle to Save the Pentagon on 9/11, and Bury Us Upside Down: The Misty Pilots and the Secret Battle for the Ho Chi Minh Trail.


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