The behind-the-scenes story of the airplane demonstrates how private enterprise is needed for innovation and economic growth— and that government subsidies usually fail.
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In Search Of History
With interest rates flattened [by the Federal Reserve], government zeroes out the future. Abandoned were 80 percent of private defined-benefit pension plans. Public plans faced a similar evisceration in the future. With no acknowledgement, the U.S. government had casually dispossessed the American middle class of its retirement assets and pushed millions of Americans into acute dependency on government programs. ... Government dependency negated the American dream.
Shadow Stats Snapshot
ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.
- Unemployment:
BLS: 4.05%
Shadow Stats: 21.5%
- Inflation:
May Year-to-Year: 2.87% (CPI-U*)
Shadow Stats: 9.9%
*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]