Propping Up the Economy: Debate with Baratunde

I'm a current events junkie. I read news magazines, listen to podcasts, and even tried once to eat the Financial Times. It's so pretty, I had to try. Sometimes, however, I get concerned about the short-term manner in which we Americans deal with our problems. There are plenty of long-term challenges that deserve our attention.

China will rise to increasing power, and that statement is based just on the statistical probability of their billion people being able to kick the butts of our 300 million. Add to that the country's modernization efforts (a recent article revealed China has now surpassed the U.S. in production of IT goods), and Berlitz is going to be making a lot more money from its Mandarin product line.

Our education system is failing us. Sure, colleges have never graduated more people at any other time in history, yet the public schools feeding into them are doing worse every year. Our school year is based on an old agricultural calendar in an age where most kids think beef automatically comes with special sauce, lettuce, cheese, pickles, and onions on a sesame seed bun. I learned about this watching the debates on The West Wing, which were far superior to anything produced in the real world over the past 40 years.

Also, the bird flu is going to kill us all. Oh yeah, news flash people. One, two, bird flu's comin for you, and it doesn't matter if you lock the door because that joint is airborn! Chickens around the world are in revolt, infecting people with a horrible illness, and just who do you think the chickens see as their most perfect enemy? Who is their Emmanuel Goldstein? Colonel Sanders, commander-in-chief of KFC. Why is that man a Colonel, anyway? He hasn't fought in any wars, except his war on chicken, and now their vengeance is nigh.

But with all these chaotic threats around us, the news article that really scared the pick out of my afro was this from the Jan. 8 edition of the San Francisco Chronicle: "Americans' Savings Less Than Nothing: Spending could outstrip income in 2005, which hasn't happened since the Great Depression."

Well, I do believe I am now depressed! How prophetic is that headline? I've often heard about the low rate of savings in the U.S. when compared to other countries, but we've entered new territory now. Since the 1980s, we've slid from a 9 percent rate down to the most recently reported negative 0.2 percent.

At the same time, our economy has grown over recent decades, powered by ever-increasing consumer spending. This is the part that has always confused me. Why does the economy need me to spend so much? I'm just one man; why is there so much pressure on little me? Can the economy get a little love from the business and government sectors every now and then please? I honestly feel overwhelmed by the responsibility. I turn on the news, and the anchors sound so sad sometimes: "Consumer confidence took a hit this quarter, leading to slower economic growth *sniffle*."

Here's what they're really saying: "And today in economic news, selfish consumers struck another painful blow to the U.S. economy by tightening their purse strings and opting to save for their children's school supplies and prescription drugs rather than purchase another television screen."

In fact, consumption of all sorts is really taking over our society. We're eating more, and getting fatter. We're driving bigger cars to carry that extra weight, and our homes are nearly twice as big, because our families have the same number of people, but we take up twice the space!

Well, I'm taking a stand right here and now. I'm saying "No." You should consider it, too. Let businesses drive this economy for a while with some productivity gains. Let the government give it a shot by building another interstate highway system. I'm not sure exactly how it would work, but when China activates the mind-control chips in all that cheap clothing, and our high school kids emigrate to India for employment, and the bird flu makes it impossible to get to work, you're gonna wish you'd saved a little something. Don't say I didn't warn you.

Baratunde Thurston is a comedian, author and vigilante pundit living in Somerville, Mass whose extensive economic training (he sold contraband water guns in high school) has prepared him well to write on financial matters. He will be peforming at this summer's MBA Diversity Symposium and Social in Chicago on August 5th, 2006. In the meantime, you can read more and see his live performance schedule at www.baratunde.com

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