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Mail Call: America's Economy.(Letters)(Letter to the editor)

Newsweek International

| August 11, 2008 | COPYRIGHT 2008 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Readers of our June 16 cover package on recession endorsed Fareed Zakaria's views. One echoed, "Improving the economy involves some short-term pain." Another said, "We Americans waste more than the rest of the world." A third wrote, "We are all consumers, mere units who go out and buy stuff."

Recession Panic

FAREED ZAKARIA LAMENTS THAT MUCH of what government should do to improve Americans' future economic prospects "involves some short-term pain in exchange for long-term gain. But Washington has become incapable of that" ("How to Get Back to Growth," June 16). He's right. But he's wrong to suggest that this phenomenon is new, as this 1944 entry from ...

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