The Economy… Isn’t some of it really how we feel?

We’ve heard it said time and time again that consumer spending accounts for approximately two-thirds of our economy. And currently Americans are spending less and saving more (approx. 4.3% savings rate per the U.S. Bureau of Economic Statistics). In a recession this is not good, at least for the short term. Experts tell us to get this economy going, the consumer needs to start spending. But guess what – the consumer is scared to death. Yes, the outlook for jobs is not rosy, the weather has been pitiful, and the economy is not out of the hospital. These factors contribute negatively to our economy.

Just last week the WSJ “Financial Adviser” reported Millionaires’ consumer confidence slid slightly, naming the “political environment” as their number one concern behind unemployment, health care, and the economy. Keep in mind this is a consumer group that historically has been more optimistic.

So could there be something that might help the consumer “feel better” even almost overnight? Maybe better weather, but also something else? I propose this… our politicians and the White House go on a long vacation and avoid speaking to the media for several months. After this some consumers might possibly start to feel better about their future, and maybe even begin to spend more!

You know a little bit goes a long way, and it seems ever since the Fall of 2008 we have seen and heard more than we can stomach on our television sets as Congress (both parties) and the White House do their stuff right in front of our lives. And the Health Care debate seems like it can’t finish or go away. Yes, our politicians say they mean well, but aren’t we all subject to becoming overdosed from politics and the fears of Government-overspending?