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“We have been borrowing massively abroad—some $850 billion in 2006 alone. With the government spending massively, and with American households saving zero, there was nowhere else to turn. We used to lecture other countries about what good economic policy meant; now they are laughing behind our backs—and occasionally lecturing us. While we seem traumatized by the idea of our government running a bank, we seem to accept the notion that a foreign government might have a major share in iconic American financial institutions—banks so important to our economy that they are too big to fail. Economists who have calculated the exchange rate required to end our trade deficit provide horrific numbers, suggesting that the decline in the dollar may have only just begun. Americans will no longer be able to even buy a cup of coffee in Paris. We can avoid these adjustments, which will be painful to us and our trading partners, but only by increasing our savings rate.”

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TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

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