As we work with Congress in the coming year to chart a new course in Iraq and strengthen our military to meet the challenges of the 21st century, we must also work together to achieve important goals for the American people here at home. This work begins with keeping our economy growing. … And I encourage you all to go shopping more.
It sounded really stupid coming out of his mouth (natch). But I am hearing the same message in more subtle ways from less retarded-sounding sources.
According to this AP article, for example, saving is bad for the economy. "For years, stores enjoyed boom times as shoppers splurged on TVs, fancy kitchen decor and clothes. Suddenly, frugality is in style."
For the first time ever, I have a savings account. With actual money in it. If that makes me "stylish," even better. I reached this point after paying down $10,000 in credit card debt. I hope never to go that far into a hole again.
The AP article laments, however, that "hard times will persist in 2009 as consumers, squeezed by layoffs and tighter credit, delay purchases of cars and other big-ticket items. Some experts say consumers have been so shaken by how fast their wealth has shrunk, so burned by credit card debt, that they might not resume their robust spending for years, if ever."
Thanks for the guilt trip, AP. But Americans' "robust spending" got us--including me--into lots and lots of trouble. Shouldn't we learn from our mistakes? Isn't it a good thing that more of us are saving?
This article doesn't try very hard to challenge what I would argue is a flawed philosophy: that the strength of America's economy is measured by the number of plasma TVs, McMansions, granite countertops, and iPhones purchased on credit.
I'm no economist, but there has to be a better measure of how well we are doing as a society. Urging me to go out and buy stuff, either subtly or in so many words, doesn't seem like a prudent way to make our economy sustainable over the long term.
I did, however, buy new shoes this weekend. Does that make me a patriot?
