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We are right to put money away; gov?t is wrong to discourage us

By Alliance Alert

Investor's Business Daily: "Americans are doing all they can to reduce their debts and put money away for rainy days, and the federal, state and local governments are doing all they can to pile debts onto our backs, reward borrowing and punish saving . . . Some White House officials and others, not content with the ways government policies already discourage saving, are trying to encourage people to spend more money, arguing it's needed to grow the economy . . . Federal Reserve statistics disprove that claim. Between 1980 and 1994 the U.S. savings rate averaged 8%. Most of those were heady years for economic growth compared to what we see today."

Full post as published by Constitutionally Correct on August 16, 2010 (boomark / email).