Editor:

Recently, there was an Associated Press article titled “Stagnant recovery.” It stated, “The richest Americans now hold a greater share of the nation’s wealth than they did before the Great recession of 2007. Fewer middle-class Americans own homes. Fewer are invested in the stock market. The bottom half of the population gained less than 2%” Why? Whose fault is that? We older persons were taught frugality as youngsters. We had piggy banks. We were taught to save and invest, not spend our last dime on luxuries not needed.

The USA (and the trend of economists) economy seems to be based on spending on the biggest TV, borrowing to have an elaborate annual vacation, and maintaining credit card debt (the average American carries an average of almost $10K in credit card debt) paying interest monthly. Credit card companies rate individuals higher when they have debt and make monthly payments, than if they have money in the bank. The lame stream media includes the eight years of the Obama regulations and stimulus (almost trillion dollars of ‘shovel ready’ projects) in the years of stagnated growth, now with true growth under the Trump economic policies, the MSM has the audacity to say the USA still has a “stagnant economy.” If Americans have not and are not prospering with lower gas prices (oil independence), reduced prescription costs, increased income, increased investment opportunity (Dow is doing great), they have only to look in the mirror to find the one responsible for their stagnation. Present government economic policies are improving Americans opportunities to better themselves. It is not a “Free Program,” individuals are expected to work, take advantage of opportunities, and save and invest in America. Therefore, improve their financial status. It is not the government’s job to provide individual wealth. When government provides, liberty is lost. Remember Socialism is everyone sharing poverty, not wealth.

John Lee

Florence