I've written about this before, but I want to emphasize this again. I've been asked to name one future situation of which I'm most certain of. My answer is this -- I believe the surest situation (change) in America's future is a decline, even a drastic decline, in our standard of living. We've spent it, we've spent what we didn't have. And somewhere ahead, probably much sooner than we think, will come pay-back time. And it won't be pretty.
Why do I warn about payback time? My answer is that there is no free lunch or no free dinner. Really? But Americans have been stuffing themselves with free lunches and free dinners ever since World War II. How could they do that? Here in the US we have been able to keep our standard of living high because of one reason. The fact is that we have been spending more than we ... Log in or subscribe to continue reading.
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