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The solution is at hand. Except for a small blip during the end of the Clinton administration, the deserving 10% wealthiest American have been taking the vast majority of the increase value of economic growth. Under Bush and Obama the the bottom 90% have been loosing income and wealth while the top 10% continue the accumulating more. Not only that they are pushing debt onto the government. While they can pay their share of $50,000 - $100,000 of debt. For most it will cause immiseration, which will reduce their borrowing and consumption. This will go a long way to reducing foreign borrowing and oil imports.
Comment: #1
Posted by: Tom Baxter
Sat Nov 7, 2009 4:32 AM
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