Saving, SAVING is Killing the Economy?

There is an article on CNN today titled "Why Saving is Killing the Economy", and I can't help but think, are they serious?

Never mind that greed started this entire "recession" but now you want to lay the blame on the American people that are watching out for themselves as to why it endures?

Okay, fine, I get the thought behind the article - as more people save, they ultimately spend less, which means, the economy continues to decline, but how can you blame the individual?

Let's think about this - and I'm sure many of you have - if you don't save, and you lose your job, you lose everything. Therefore, in these "uncertain times" people are going to save, and save every little bit they can. Sure, it might "kill the economy," but honestly, you can't tell me that those unemployment numbers aren't doing a whole heck of a lot more to kill the economy than the individual saver!

Currently, my job has been threatening to cut overtime - fair enough, I guess be happy you still have a job, correct? Fine, and I will be happy with that, but if you cut my overtime, I lose about $1,000 of monthly income that I could otherwise SPEND in this economy.

And what about the people that have lost ALL their income by way of pink slip? Are they to be "blamed" as well for "killing the economy"?

However, when the business "saves" - i.e. SLASHES JOBS!!!! - it's deemed okay, because that's "good business practice," but when an individual cuts back to only the bare essentials to living, they are deemed as "killing the economy."

Let's make up our minds people, we can't have it BOTH ways! One way can't be "good for business" while on the individual level they are "killing the economy."

Seriously, the individual would easily spend, spend, spend if they didn't have to worry about the company looking to save some dough by way of cutting salaries and jobs! If these companies truly wanted to save the economy they'd start hiring, they'd reduce their firing, and they'd stop cutting back on the employee benefits!

Yes, the individual makes the economy tick, but with such fear in the air due to the "great saving strategies" in place at the corporate level then yes, the individual is going to do what is best for them, and that is save every dime they can for that day when their job becomes extinct.

Blaming the individual for saving is ludicrous, when the real culprits in this travesty are the bank CEO's - who get BILLIONS in bailout money and "save it" - not turning any of that money over by way of loans, or even by way of increased savings rates - which would help the individual in that they can have more to actually SPEND, rather than save.

But the media, and even the government, want to ignore the savings at the corporate level and only attack the individuals. Individuals that have a responsibility to themselves and their families to make sure that, if times get too rough, that they can make ends meet. Indeed, it's the individuals fault for "killing the economy."

How could I have been so naive?