McCombs TODAY

KUT-Radio, July 7, 2009

Americans are nervous about their economic future, and one of the ways they demonstrate this anxiety is by saving more. Currently we are saving about seven percent of our income - a much higher rate than when the economy is good. Unfortunately, when people don’t spend, it can slow down economic recovery, as well as hurt local governments that count on sales tax revenues.  ”We should learn that downturns do come,” said Michael Brandl, McCombs finance lecturer. “And so don’t overextend yourself, don’t spend every dime you make during the good times. That’s true whether it’s municipalities or whether it’s individuals.” Listen to story.