Boom Times Ahead?

Probably. But Will Washington Make the Most of Them?

The consensus outlook for the U.S. economy is, to put it mildly, pretty bleak. The boomers are retiring, the debt-fueled consumer-spending binge of the 2000s has ground to a halt with nothing to replace it, and American manufacturing workers are trapped in a brutal competition with hundreds of millions of cheap, eager workers from all over the developing world.

Worst of all, as middle-income Americans get squeezed, the very richest...

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About the Author

Charles R. Morris, a Commonweal columnist, is the author of The Two Trillion Dollar Meltdown (Public Affairs), among other books, and is a fellow at the Century Foundation.