Political observers used to say things like “It’s
the economy, stupid.” But that was a
different time, a time when bad economic news scared people and good economic
news lifted them up. We’re living in a
different time today. I call it an America
in shell shock. As evaluators of the economy,
we’re pretty much flat-liners. We have
no trouble accepting bad tidings, yet we can’t allow ourselves to believe good
economic news. Even if we did hear some,
we’d be confident that it wouldn’t last.
As any economist can tell you, this becomes a self-fulfilling
prophesy. For if we are afraid to spend,
suppliers will be afraid to produce, employers to hire, and bankers to
lend. It all starts with the
consumer. And right now, we’d rather
save (if possible) than consume, for we have no trust that if we spend much
today there would be anything left to live on tomorrow.
In today’s New York Times, Michael Shear chronicled
the state of the American political/economic union in one sentence: “Although
the unemployment rate is now at the lowest level of Mr. Obama’s presidency, his
job approval rating is also near a record low for him.” Obviously, Obama’s political standing could
be the result of recent setbacks in foreign policy, but you and I both know
that’s not primarily the case. Economics
is still what matters. And when it comes
to economics, Americans after the Great Recession have become a nation of Droopy
Dogs.
What the hell happened? I still remember growing up in America in the
‘60s and ‘70s. We had our angst, to be
sure, but there was wind behind our sails, individually and collectively. We had declared a war on poverty and, indeed,
the walls of Jim Crow were being smashed brick by brick. Just as racism was becoming a dirty word, the
same was beginning to be said about sexism, especially once Billy Jean King kicked
Bobby Riggs to the curb. Even as tens
of thousands of young men died in Vietnam, we celebrated our space program -- and
not just on Star Trek. Our rock ‘n
rollers were never quite as good as the blokes from Britain, so we celebrated
the Brits as our own and allowed them to lead us in summers of love.
Athletes were beloved back then as well – since nobody
knew what a “PED” was, we took their accomplishments at face value. And people could go on to reasonably good
colleges without putting themselves into infinite debt. In fact, young men and women could get into
the nation’s best colleges without having to sacrifice their youth in the
process.
The generation that oversaw America’s rise to
affluence in the 60s and 70s was the so-called “Greatest Generation.” This was the generation that fought Hitler and
Hirohito together in World War II. Many
died. But those who lived did a great
job building interstate highways, turning public universities into national
treasures, and coming up with political compromises that incentivized economic
efficiency without ignoring economic equity.
As a child who grew up in those days – a so-called “Baby Boomer” -- I
can safely say that the Greatest Generation nurtured us so that we could grow
up thinking that the world was our oyster.
The rest, as they say, is history. We Boomers became self-centered and spoiled. We luxuriated ourselves, living beyond our
means and neglecting the “greater good.”
The environment became something to utilize, not to care for. Sacrificing came to be seen as un-American
and unnecessary. Government regulation
came to be seen as a gateway drug to Marxism.
And rather than emulating the 60s and 70s, we tried to emulate the
Roaring Twenties. To top it all off, an
entire industry of politicians and political mouthpieces showed up on the
scene, fighting the Government like our ancestors once fought Prohibition.
The economy remained relatively strong, at least on the surface, until the middle of this past decade. Then, when it all came tumbling down, the age of narcissism abruptly ended.
It was time to look at ourselves in the mirror. And
somehow, we couldn’t recognize anything remotely resembling that Greatest
Generation. Americans were no longer “winners,”
let alone vanquishers of evil. Economically, we were seen as being swept
under the great tide of international mediocrity, rather than serving as the
world’s vanguard. The idea of a national consensus, which used
to take us from one grand project to another, seemed like a utopian
concept. Our federal government was
paralyzed, our military overtaxed, and our wars pointless. Perhaps most tellingly, our leaders became laughingstocks
– mere roadkill for the likes of late-night TV comedians. They are but a shallow image of the iconic
faces that have been depicted on our coins and on that celebrated mountain in
South Dakota.
Yes, folks, the mighty have fallen. But we can get up, if we remember how we
became great to begin with.
When I want to rekindle my love for country, I like
to visit the home of one of the founding fathers. I like to celebrate 18th and 19th
century America. But I also like to
think about all the technological advances we’ve experienced in the recent
past. I’m no lover of technology, but it
is awe-inspiring to consider all the information that is available at our
finger tips, and the world owes so much of that to American ingenuity.
Have we seen our best days economically? I don’t
know. What I do know is that economic
prosperity tends to be cyclical, and there is no reason why we can’t find
ourselves on another significant upswing – if not now, then soon. Yes, we must have a functioning government
once again. Yes, the Rush Limbaughs of
the world must go, and the Walter Cronkites must return. But why can’t that happen? Mostly, we must believe in ourselves, each
other, and in the future.
Why not start by watching an old video of Droopy Dog
and asking yourself: is that your role model?
If not, keep the faith and get busy.
Work hard. Play hard. And don’t be scared to spend a little money
for a worthy product.
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