“Consumers are not on a spending spree, but they continue to spend,”
Sung Won Sohn
“Through not spending enough we spend too much”
Spanish Proverb
“If we continue at a spending level like in this budget, we are headed downhill, ... This is not a budget I feel good about approving.”
Glen Stewart
“The spending spree is over. Take that ATM off the front of your house. You're not going to be able to draw cash out of your house anymore. Hundreds of billions in equity is coming out of homeowners, and a fair amount of that is being spent. The [refinancing] boom presupposes increases in housing prices. All it takes is for housing to go flat and the housing story is over.”
Jack Ablin
“The EDC is not spending money like we're going to continue receiving $650,000 a year, because the sales tax can decrease just as quickly as it increased. If sales tax declines, we know we can meet our obligations.”
William Myers
“We are not to judge thrift solely by the test of saving or spending. If one spends what he should prudently save, that certainly is to be deplored. But if one saves what he should prudently spend, that is not necessarily to be commended. A wise balance between the two is the desired end.”
Owen D. Young
“That's one of the reasons why consumers are not going on a spending spree, though they're keeping the economic ship afloat. When higher unemployment numbers come out, that will probably rattle consumer confidence a bit.”
