when they need to start saving more, then there will be less spending, less activity going on in the economy. and in the long run, that is going to mean that everybody has to get used to a lower standard of living for the future. >> but, john, with consumer spending about 70% of the u.s. economy, how do you make that point to consumers that we need you to spend even though you don't really have it, to get the economy back? two perspectives to look at, from the individual's viewpoint and the overall good of the economy. >> it's the classic paradox of thrift. what makes sense for any individual consumer is to cut back -- more or less never makes sense to do any serious borrowing via a credit card in the first place. it helps the profits of banks. it's really not a good idea. ultimately, it's very difficult to tell any consumer that they should be spending more than they have in the current environment. if you want the ultimate