Yesterday, the Commerce Department announced that the economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in U.S. exports in 40 years overwhelmed a rebound in consumer spending.
But that rise in spending prompted the stock market to go up, experts say.
We need to face reality and concentrate on jobs, sustained growth, savings and investment. Spending is a luxury: and much of that money spent goes to China for lawn furniture and more plastic goodies we don’t need. China already has enough of our loot in debt and interest…..
The president would do all Americans a favor by saying, “Every time you spend a dollar, ask yourself if this helps the economy. Where does that dollar go?”
That would be a lot more real and helpful than “Wash your hands. Don’t get the flu.”