http://jtaplin.wordpress.com/2008/01/18/blowbac...
An honest politician would tell the country the truth. The era of cheap oil, easy credit and spending more than you earn is over. America cannot exist with 70% of its economy based on consumers spending at the mall. We will actually have to rebuild our manufacturing base and that means we will have to rebuild our infrastructure. We can no longer be 16th in the world in Broadband Diffusion, 26th in the world in 12th grade science scores and pay our teachers like they were flipping hamburgers. This transition is going to be painful as people pay off their credit cards, reduce their silly spending for things they don’t need and become more resistant to the 5000 commercial messages a day they are bombarded with. I am reminded of John Kenneth Galbraith’s book, The Affluent Society. Galbraith’s assertion that the perfection of modern advertising in creating desire for products we didn’t know we needed puts the modern American member of the middle class in the position of the gerbil on the tread wheel: running faster and faster, but making no progress in relation to his neighbors.