Tuesday, December 8, 2009

Obama & Savings

Great post from my buddy Alex Bain commenting on a post about Saving from Fred Wilson. Alex's comments reflex my thoughts perfectly. One of the best things Obama could do would be to popularize Saving.

"What America really needs is someone with street cred that can come along and make saving really cool (perhaps a rapper named “401K”). Not saving in the form of buying a house one can’t afford, but saving as in not consuming, individually and nationally.
I don’t know a ton about macroeconomics (despite my econ BA and MBA), but it strikes me that we’re currently trying to spend our way out of debt."