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Consumers and recovery
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A recent article in the Wall Street Journal said that consumers were delaying a recovery by not spending enough money. There is plenty of blame to go around for the current economic crisis. The spend and cut taxes policies of the Republicans played a role. As did the American dream home for everyone plans of the Democrats. Not to mention the industry players who were quick to take advantage of both.

Just to refresh your memory, it was Dick Cheney's "friends" who billed the government for millions of dollars of work that was never performed or performed poorly in Iraq. The gravy train for military spending was loaded with more than the usual fraud and waste during the Bush Administration. But to be fair, the speculation in housing was fueled in part by Democratic policies to favor even the unstable with home ownership. True, banks looted that like an abandoned candy store but it was Democratic policies that made it possible.

What is missing in that cast of wrong doers are the ordinary consumers who are now "responsible" for delaying a recovery. Consumers who did not speculate in real estate, who did not participate in various frauds against the public. The same consumers who are now facing uncertain job prospects, if not unemployment, who can't borrow money, despite having excellent credit. Oh, and the same consumers who have not been given hundreds of millions of dollars in bailouts.

Consumers are interested in an economy and government that is run for their benefit. Until the government shows more concern for the ordinary consumer, my suggestion is that we keep our wallets firmly shut. Even if Wall Street has forgotten the value of personal responsibility, perhaps ordinary consumers have not.

Patrick Durusau is a resident of Covington. His columns appear regularly on Fridays