Consumer Spending and Economic Recovery

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Consumer spending is 70 percent of the US economy, so what did Black Friday and Cyber Monday reveal about this year's holiday season? The 90 percent who are still employed are beginning to spend again. If Americans spent their way into the Great Recession, can we spend our way out of it? President Obama said today the US needs to get back to what it used to be famous for: inventing, building and exporting goods that say Made in America. Does the US need to become more like China is now, and does China need to be more like America used to be?

Credits

Guests:
Kelli Grant - Senior Consumer Reporter, SmartMoney.com, Derek Thompson - The Atlantic - @DKThomp, Karen Dynan - Co-Director of the Economic Studies Program, Brookings Institution, David Leonhardt - New York Times - @DLeonhardt

Host:
Warren Olney

Producers:
Sonya Geis, Christian Bordal, Katie Cooper