Please read this excellent column by Paul Krugman in the Friday New York Times. Excerpt:
For the last few months there has been a running debate about the U.S. economy, more or less like this:
American families: “We’re not doing very well.”
Washington officials: “You’re wrong - you’re doing great. Here, look at these statistics!”
(big snip… read the whole damn column here.)
You may ask where economic growth is going, if it isn’t showing up in wages. That’s easy to answer: it’s going to corporate profits, to rising health care costs and to a surge in the salaries and other compensation of executives. (Forbes reports that the combined compensation of the chief executives of America’s 500 largest companies rose 54 percent last year.)
Oh why does Paul Krugman hate America so much? Why does he work so hard to screw it up? Only Bernie Goldberg knows for sure.
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