debt

Growth, Debt and Outsourcing

October 30th, 2008
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Economic growth in the U.S. has averaged 2.7% over the past years.  Taking out personal consumption, the growth was 1.3% per year in 10 years ending in 2007.  That is the slowest growth rate since the 1950s.  U.S. consumers have run up about $3 trillion in excess borrowing and spending over the same period.  This