2010 Q1 Quarterly Report
The national economic debate today seems to be centered on our government?s response to the challenges of the past two years. In the United States, Europe, and China, the answer to plunging private demand has been strikingly similar - government spending. Critics rightly highlight the liabilities associated with the practice but rarely note that a given nation acquires assets as well that will also be passed on to future generations. The government?s response has been, by and large, necessary, prudent and effective.