Economy and Finance
Americans Are Getting Poorer – Fast
Our political leaders, our business leaders, and our cultural leaders have made a series of catastrophic choices. The result has been a long decline in America’s standard of living. The numbers tell us America is in decline… if not outright collapse.
For decades, we have papered over these problems with massive amounts of borrowing. But now, our debts total close to 400% of GDP, and America is the world’s largest borrower (after being the world’s largest creditor only 40 years ago)… And the holes in our society can no longer be hidden.
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So… is America growing richer or poorer based on per-capita GDP? Seems like a simple enough question, doesn’t it? Is our economy growing faster than our population? Are we, as individuals, becoming more affluent? Or is the pie, measured on a per-person basis, growing smaller?
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