'We spent too much', I replied.
Citizen Krugman presents a good chart reflecting this:
C(Consumer spending)
N(Nonresidential Investment)
R(Residential Investment)
G(Government Purchases)
NX(Net Exports)
Average - 1979 to 2007
SOURCES OF DEMAND
C 2007, 70.3% ... average 66.7%
N 2007, 10.9% ... average 11.3%
R 2007, 4.6% ... average 4.5%
G 2007, 19.4% ... average 19.4%
NX 2007, -5.1% ... average -2.4%
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