Wednesday, September 9, 2009

Consumers Reduce Debt

Americans have finally realized that too much debt is a bad thing:

The Federal Reserve reported Tuesday that consumers in July ratcheted back their
credit by a larger-than-anticipated $21.6 billion from June, the most on records
dating to 1943. Economists had expected credit to drop by $4 billion.

I hope this new attitude towards debt translates into more fiscal responsibility by our government.

No comments:

Post a Comment