Start Saving or Get Ready for U.S. Decline: Laurence Kotlikoff
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Dec. 30 (Bloomberg) -- America has a terrible savingproblem and a slumping economy. But our national mantra,underscored by last week’s payroll-tax cut, is spend, spend,spend.
Yet, countries can’t spend their way to prosperity. Thisdemand-side voodoo-economics approach is driving us furtherinto hock. The right mantra should be save, save, save.