This is behavior we need to import from Germany.
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Really? Then you voted for the wrong person to be president. I can absolutely guarantee you that Obama intends to spend his way out the recession. Encouraging people to save more, and not spend, could land us in a depression that will rival the great depression of the 1930's.
There are problems with people having too much debt, but the current economic problems and financial system meltdown have nothing to do with that.