Editorial June 25, 2001 Issue

The empty promises of uncontrolled spending

Russ Gerber

You may be unaware of the radical economic shift that's been taking place in society over the last half-century, even though to some extent you might be participating in it. It's a shift from saving to spending, which reached a milestone just recently. US News & World Report says that late last year, for the first time in the US, total household debt exceeded 100 percent of disposable income. This came at a time when personal savings fell to the lowest monthly level in history. Bottom line: A lot of people are in over their head.

When it comes to controlling the urge to spend, the concept of heaven being within us is a powerful help.

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