Consume less and save more. If US households or the government reduce consumption (businesses save more than they spend), imports will drop and less borrowing from abroad will be needed to pay for consumption. That’s an Oba’a trade mantra, except that he did not even propose the latter; saving more. His economy did not recover enough to get above a baseline of working for money. Further, his economic policy failed at the start because the American consumer is used to buying whatever from wherever, so import of goods favors export because we have more goods available to buy. The better answer is to increase exports, not imports. We have been increasing imports for the last 40 years, and why Oba'a declared that 2% GDP was the new norm. Nonsense! When our exports are a net plus, we have greater consumability of American products for less money, and GDP will soar as it is supposed to do.
Consume less, or consume more?
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--> @fauxlawif you save and earn a little interest, like I do, you are taxed on it, naturally, there is no real incentive to save and actual reasons not to, that could be changed and would help things like social security etc, but that would mean people would be more independent and less dependent on the government and we can't have that now could we.Imagine if you were taxed when money was actually spent? I earn about $40 a month interest, bfd, but of course I'm taxed on it. This is money I have set aside to for a down payment on a home (if I ever find one) Which then will be taxed etc.the more self sufficient and independent people are the less government they need. If you keep that in mind when looking at economic type things (most of what Sanders was peddling) you can see why something are the way they are.