South Carolina Citizen Journal

August 29, 2009

70% Consumer Spending

Filed under: Circle the Wagons, Economy, South Carolina — NotforHire @ 7:58 am

I keep reading about how 70% of our economy is based on consumer spending, and that we need to spend more to bring us out of this recession.

It needs to be pointed out that consumer spending is consumption, and that 70% consumption is, to put it mildly, unsustainable. Does that mean that only 30% of the economy is production?

A new found frugality and increased savings rate are nothing but a good things for our state.  It is time for a major restructuring in how we function in our economy.

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