For long-term prosperity, Americans must learn not to overspend

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  • Christian 24-7 Murray, UT
    Dec. 24, 2012 9:41 p.m.

    All you Keynes followers need to remember that having people working productively and actually producing some goods or services will have a double positive effects on the economy. People spend more and because they have money and because there are goods and services to buy. If those goods and services are produced by Americans, the money goes around for another lap furthering the US economy.

    Handing out money to people to buy what they need helps them in the short term, but when they buy the goods from China, only a small fraction of that money helps the US economy. China does not buy enough of our goods to get that money back to our economy. They just loan it to us, earning interest from us, causing our economy to slow further. We cannot fix the economy without improving our productivity and selling our goods to ourselves and other countries.

    We cannot borrow and spend our way out of this economic mess. We need to work and produce our way out of this mess.

  • Hutterite American Fork, UT
    Dec. 24, 2012 3:33 p.m.

    Credit should be MUCH harder to get. Kids should be driving 20 year old cars, not 50,000 dollar pickups.

  • Mad Hatter Provo, UT
    Dec. 24, 2012 3:16 p.m.

    In a consumer society, spending is essential for maintaining a robust economy. Asking people to be wise consumers and not go into debt and use credit is telling businesses that their products and services need to be regulated by prudent spending habits.

    What will all those entrepreneurs with slick ideas and a desire to make a quick buck do if potential customers actually think carefully before making a purchase? The fact is, we need reckless spending to get the economy going. It doesn't matter if people actually need what they buy, they just need to spend. If people cut back just 10%, that would mean 10% less in economic growth, 10% less in profits, and 10% decline additional purchasing power which would have been generated by the 10% that would have been available because of consumer demand.

    The wide use of credit and comsumer debt drives our economy. If it gets out of hand, business only wants to cut back, but it doesn't want to cut back too much lest it suffers. Select business wants to eliminate the competition while these select businesses stay active and profitable.

  • one old man Ogden, UT
    Dec. 24, 2012 12:17 p.m.

    Now MM, that is one thing I can heartily agree upon with you!

    May next year be filled with smiles for all of us.

  • Mountanman Hayden, ID
    Dec. 24, 2012 12:02 p.m.

    To all my friends on D.N. with whom I have had many interesting discussions, I wish you all a Merry Christmas and a happy New Year! I want all of you to know I hold no grudges and have enjoyed our discussions for the most part! While we can honestly disagree, we still can learn much from each other if we so choose! See you in 2013!

  • one old man Ogden, UT
    Dec. 24, 2012 11:14 a.m.

    Mav, agreed. Maybe it's time to resurrect Occupy Wall Street in a more effective form.

  • The Real Maverick Orem, UT
    Dec. 24, 2012 10:26 a.m.

    Where was this concern when we passed Medicare Part D, invaded 2 countries, and gave tax cuts to the rich?

    The truth is, debt is exactly what repubs want. That way, they can cut and destroy valuable social programs, hurt the middle-class even more, and usurp more power for the corporate elite.

    Fellow Mormons should be familiar with this story. The King Men who wished to overthrow the Nephite government. We see history repeat itself in the Book of Mormon yet we seem to ignore that history is repeating itself in modern day America.

    The corporate elite, like Mitt Romney, are merely usurping power and taking it away from Joe Sixpack. When will we fight back? Our Democracy is at stake here! It was never meant to be controlled by the 1 percent. Corporations ARE NOT people!

  • one old man Ogden, UT
    Dec. 24, 2012 9:03 a.m.


    But we also need to put a stop on deregulation of banks and Wall Street and look to greater wisdom in how to manage the Big Money interests that are currently able to swindle ordinary Americans.