Tuesday, February 07, 2012

Is bad news for us good news for Uncle Sam?

The latest news from the Federal Reserve is that consumers are borrowing more money again. Forgive me if I don't see indebtedness as good news. I am glad I am not one on those getting deeper in the hole.

If you have it, and want to spend it, that's fine. But don't borrow to do it. Your economy, and the nation's, will be healthier in the long run.

The following is a Storify story with the news and some reaction from the Twitterverse.

2 comments:

Gene said...

Of course, I don't know enough about it to speak with any authority. I do think that you will find that Paul Krugman at The New York Times disagrees with you. He contends that gov't must go into debt in order to stimulate the economy through jobs. When the economy is stabilized, then the debt can be lowered.

Je ne sais pas.

Gene said...

P.S.
The story hasn't loaded yet,and I've been on your site for three or four minutes.

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