Increased consumer spending has become an obsession with the economic-recovery crowd.
Such spending accounts for 70 percent of the U.S. economy, as measured by the gross domestic product, or GDP.
Therefore, the thinking goes, consumer spending must rise if the economy and stubbornly high unemployment rate are to recover.
Some pundits even muse about consumer spending being a particularly American form of patriotism.
Read the whole story: Business Insider
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