A statement I often hear from Warren Buffet in interviews is (I'm paraphrasing here) "The GDP is forecast to grow at 2% per year and the population is forecast to expand 1% per year. So, Americans will continue to get wealthier, at a rate of 1% per year." The big point he's missing is that the cost of living is shooting up way faster than 1%, making us poorer in real terms. I could get into more reasons why his logic is faulty (e.g. the use of GDP is a measure of growth), but I'll leave it at saying I get so annoyed by permabulls like Buffet. The U.S. economy is a complete joke and our standard of living can only go down.