Sunday, June 22, 2008

Living standards decline as wealth shifts to the East

The London Times has an editorial that foretells a future beset by lower living standards in the West.

We're seeing the results of this shift now, with Americans suffering the highest productivity of any industrialized nation, while seeing stagnant wages and growth.

We've outsourced ourselves into decline.

We cannot stop this shift, but we can ease its pain. As a nation, we have the opportunity to relieve some of the burdens on American workers and families by providing universal health care insurance. People can work without the worry of a catastrophic illness destroying their families.

We can begin infrastructure spending to improve our efficiencies and pump money into the economy while stimulating job growth at home.

Time for getting our heads out of the sand

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