Can a maxed-out nation find true riches?

In her article, Goodman is wondering if this post-recession America will learn to have more self-control when it comes to spending. With more and more Americans falling deeper and deeper into debt one would think there's a lesson to be learned about how to handle household funds. CEOs are rethinking million dollar birthday bashes and wealthy people are taking a look at what they are "wasting" their money on.


The recession not only puts people in a money crunch, but huge corporations are also going out of business. The chain reaction from that aspect of the recession has not hit us yet, but it will. If Big Three car companies were to fold, the shock waves will be felt around the world. Car dealerships going under first, more people out of a job, followed by a sharply rising cost in automobiles and maintenance, and a chain reaction all the way to our pocketbooks.



I agree with Goodman that all people need to stop spending all their money and need to instead start to save it. By saving their money and putting it in banks, people will rise the value of the US dollar. Doing this will stimulate our economy more than the government handing out money for people to spend.


Since this recession has started, my family has backed off from our spending by a fair amount. We are keeping a close watch on our spending budget. We are also trying to save up as money as possible lately.