October 18, 2011

The Great Restoration - NYTimes.com

Mainstream America gets it. David Brooks emphasizes that America has the ability to economically self-correct. Let's hope he's right and that his colleague at the NY Times, Mr. Krugman, is wrong as cheerleader for the OWS protestors while advocating for yet more government deficit spending. Fortunately, most Americans disagree with Krugman.
"...Quietly but decisively, Americans are trying to restore the moral norms that undergird our economic system.

The first norm is that you shouldn’t spend more than you take in."

...Second, Americans are trying to re-establish the link between effort and reward.

...The third norm is that loyalty matters.

...Some economists say the government should be spending more now to stimulate a recovery. Thirty-eight percent of Americans seem to agree with that. But 56 percent have said “government spending when the government is already running a deficit is the wrong approach during an economic downturn because it is only a temporary solution that increases long-term debt.”
...These majorities are focused on the fundamentals. They say that repairing the economic moral fabric is the essential national task right now."

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