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"No Increase in Standard of Living Since 1997"

There’s a belief among certain economists — and the wider population — that if the government takes a more active role in the economy, the social outcome can be improved. Dr. Lacy Hunt, executive VP of Hoisington Investment Management Company (HIMCO), says it’s a false belief…and he has proof to back it up. An unprecedented buildup of debt, he shows, can only lead to one outcome: a drop in Americans’ standard of living.

The Daily Reckoning