This one cuts both ways. It's good that people spend this season for the sake of the economy, but household debt still is high, so should they really be spending so much? With more people seeing a rough 2012 economy ahead, spending freely may not make a lot of sense for many. CNBC:
The survey of 800 Americans across the country shows that the average American plans to spend $751 on gifts this year, up 22 percent from last year’s spending plans. The number would represent a healthy 4.6 percent gain over actual holiday spending in 2010 as measured by the National Retail Federation.
While the wealthy are responsible for driving the number higher, the survey finds that every single income group, including those with salaries $30,000 or lower, intend to dig deeper into their wallets this year to spread Yuletide cheer.
Far from suggesting that the nation has turned the economic corner, the survey shows the national mood remains as downbeat as it has since the financial crisis began in 2008.
