Money

Striving after wind

Money
by Timothy Lamer
Posted 8/13/05, 12:00 am

If ever a country were a case study in the lessons about money in the book of Ecclesiastes, it would have to be today's United States.

Exhibit A: a Commerce Department report last week that announced incomes in the United States were up 0.5 percent in June, but that consumer spending during the same month increased 0.8 percent. The department also reported that Americans as a whole saved none of their income during June, with the U.S. savings rate falling to zero percent.

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Back in tune

Money | A substantial increase in legal online music sales proves moral standards can be restored
by Timothy Lamer
Posted 8/06/05, 12:00 am

For the last several years, the recording industry has been in a panic. CD sales have been falling, while online piracy-listeners stealing songs by trading them illegally over the internet-has been growing rapidly.

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The last Laffer

Money | Increasing federal revenues are causing the deficit to fall, but it's hard to get excited when spending increases threaten to break the bank
by Timothy Lamer
Posted 7/30/05, 12:00 am

Imagine learning that you're about to receive a raise at work. Now, imagine learning at the same time that your spouse went on a spending spree and maxed out all your credit cards.

This scenario is a rough equivalent to what is happening right now with the federal budget. Increasing federal revenues are causing the deficit to fall, but it's hard to get excited about that when promised spending increases threaten to break the bank in the future.

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