Excerpt
SUMMARY: Is saving money during the holidays smart or Scrooge-ish? Is shopping a way of forging social bonds and expressing your freedom or is it giving in to crass commercialism? Following the lessons of some "economist Christmas carols," economics correspondent Paul Solman weighs the economic and social theories of both sides.
RAY SUAREZ (Newshour): Retailers are hoping to finish the holiday shopping season strong, particularly given some forecasts warning of a slowing economy in 2013.
As we reported earlier, consumer spending helped spike better growth this fall. But in light of the last recession, some are asking whether less personal debt and perhaps some more austerity might be a better approach.
NewsHour economics correspondent Paul Solman has been exploring that question, part of his ongoing reporting on Making Sense of financial news.
ACTRESS: The economy is just terrible. I'm really worried about our future, honey.
ACTOR: I'm spending just as fast as I can to stimulate the economy. Uh-oh. I just maxed out my credit card.
ACTRESS: Here, use mine. The economy can use all the spending it can get.
NARRATOR: Stop right there.
(humorous look)
Watch 'Tis the Season to Save or Spend? A Holiday Money Conundrum on PBS. See more from PBS NewsHour.
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