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One of the things economists have told me over the years consumers can be relied upon to spend spend again you see economists view -- Consumers and taxpayers -- sort of the economic chunks of the world will always bail out the economy by spending every last time we have more.
But guess what the tables have turned people are paring back their debt -- -- saving more.
The Federal Reserve reported total outstanding credit to US consumers -- everything from a car alone to credit cards.
Has been steadily falling over the past few years more recently dropping more than nine billion dollars much sharper than a forecasted two million dollar decrease.
Even people who had money problems are getting smarter about their debt.
According to consumer credit counseling services their clients are managing their budgets and reducing debt more quickly than during the depths of the recession.
In other words by -- the consumers they're getting more responsible.
Don't you wish Washington could do the same and stop the outrageous spending taxpayer dollars.
But that's just my.
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