Right now there are three depressing aspects to the current course of the U.S. economy. First, the growth of healthcare spending, if it continues, will put a stranglehold on employers and taxpayers. Second, the apparent inability of the private sector to generate well-paying jobs for college grads, if it continues, will put a squeeze on young workers. Third, the apparently inability of the U.S. to export enough to close a huge trade deficit, if it continues, will leave the country exposed to a dollar collapse and a sharp fall in living standards.
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