Despite a widening account deficit, the US seems to steam ahead of its other western counterparts. Why is it that Americans are spending more than ever, even in times of an unpredictable future? A worsening income inequality does not seem to have too much impact on the overall perception of the American dream. Why is it that on the one hand, America has some of the best universities and research facilities in the world, and on the other hand, poor children do not have access to health care? Do they believe that their economy is purely better than everyone else's?
The US is using two-thirds of the global access savings to support their deficit, mostly from their European and Asian counterparts. If it would be true that only Americans believe they are special, then why does everyone else also want to buy in and be part of the phenomenon. As long as the US is able to borrow huge sums at low rates, the ride will not come to an abrupt end. And everyone complaining about the never-ending spending sprees of the average US citizens should take a closer look at who is financing these activities, and probably you will find out that you are yourself part of the source fueling this behavior.
So as long as you think your money is safe and wisely invested in the US, their economy will continue to grow at a faster pace then anyone would imagine. Remember; don't complain if deep down you also believe the US is good for it.
