Came across this article today in the LA Times: http://www.latimes.com/business/la-fi-econ-consumer21-2009sep21,0,456347...

The article basically says that, in order for the economy to fully recover, people who have been saving money need to start spending. Read between the lines and it seems to suggest that people ought to do this even if it means using credit cards to bolster their spending.

I think this is completely irresponsible! We are too beholden to creditors as it is. Credit card companies get uglier and uglier in terms of the rates and fees they charge and doing away with payment grace periods.The more we owe, the more they own us.

My husband and I do everything in our power to avoid using credit cards for anything. We pay cash or we don't buy it (with the exception of one car payment and soon a mortgage). It means we might go without such things as decor for our house, fancy cars, meals out (we love to eat out but it's become a treat, not the norm). We don't replace our clothes just because the trends have changed a bit. We buy what we need. Or we spruce up the wardrobes a bit with purchases from Kohl's or even Target and look for great sales at the nicer stores. And when we looked for a house, we didn't go up to the highest amount we knew we'd get a loan approved for: we did the math, figured out what bills we already have and what our mortgage would be, and opted to stay in a range we knew we could afford (we're in escrow now after MANY months of searching in the lower price range). We have our essentials covered and we appreciate any little extras we are able to enjoy.

Personally, I think most people could make even more small sacrifices. The burden to ease economic recovery should not fall on the shoulders of responsible families and individuals who want to keep their debts small -- and are trying to save for our futures. If consumers permanently cutting back on spending means some companies go out of business, I know this might have an impact on available jobs. I also know that many families who think there's "no way" they could survive on one income (or one full income and one smaller one) would probably surprise themselves if they had to -- or if they chose to give it a try.

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