You might call this a case of “blaming the victim.” A recent headline on an Associated Press article read, “Wary consumers endanger recovery.” The story said consumers’ doubts about the supposed “recovery” are “threatening to drag down the economy.”
The gist of the article was that heavy spending by consumers could spur economic growth, but that shoppers just aren’t cooperating with that plan.
Unfortunately, the unsound economic policies and reckless spending put into effect by the Obama administration and congressional Democrats have a great deal to do with why consumers are not rushing to the retail stores and the car lots and the real estate market.
The American people just don’t know what Washington policy is coming next that may leave them less disposable income or even destroy their jobs. So, many are sitting tight on what money they do have and declining to do very much spending beyond what is necessary.
Taxes are one of the big unknowns.