Economist: Spend on Infrastructure

" And homeowners are feeling -- that way."

" I think he's exactly right so if you think about something like condition fluorescent lights bull and lightbulbs they basically paid for himself in half -- to eight months. And the people have a hard time investing that money up front and throwing the old -- and I think these would help."

" There's another interesting thing that you'll -- what was psychology of late."

" One quick thing. And you know that day at the point is that we. One people to spend to get out of this recession we don't we wanted to keep on having it. Healthy saving rate in an oncoming that's going to be the conflict the conflict is going to be. How are we going to get people to spend to get the economy running. But once they do this. Go back to as some strategy let's check doesn't have to I what you actually will need to do all contact changes in banking in retirement -- on and help people and I decide to start saving as well."

" Susie go ahead a second glance right that you -- well -- he just mentioned you mentioned that -- we're trying to get people to spend but I live I have a home in Palm Desert as well tonight. We have a program in Palm Desert where they called me and they asked me if I wanted to take advantage of this. Program where they came to my house they've evaluated my energy efficiency. And they came back and they not only. Serviced by air conditioner make it more energy efficient but they've also replaced my light -- With with incandescent bulbs and all for free so there are programs where you don't have to spend that we can take advantage and it really comes down to bottom line of the consumer they can take advantage of these programs across the country."

" What going to you know two point two boys okay Dan made a very good point before in terms of infrastructure. But he piety in with cars cars are not infrastructure -- say infrastructures alternative energy. And if we're going to spend spend on something that's going to create a long term future. Borrowing that cut money today to buy a car is just putting you more debt and has to Susan's point that's true there are all these programs going on. But someone -- Lucy who's probably a little bit more comfortable. That most of Americans who are really struggling to get five right now I mean really can't afford a college education etc. it said Iraq. These programs are you don't get -- too desperate to really pay attention these kinds of programs yeah upper middle class right. That's not the problem the problem is creating new industries. Putting people back together in jobs that provide ongoing. An upward streams of income we don't have that right now we're not focusing on it."

" Dance I was watching somebody only when I was well. I discontent with watching from the end Sean Hannity couple weeks ago when she was saying. If there are two lines to get a hot dog and one line to get the hot dog you can get -- on the corner and it's for free. And on the other side you can get hot dog and it's great but it cost you two dollars. What -- going to go on flying and --"

" So we have lots of experiments on not a part of what we ever a lot of them like us and what we find is that. Once you had adapter would -- to something. As people look on air traffic -- but they food go to -- to -- for the privilege of doing -- so. Think about credit -- you have a credit card if you get a free no annual -- but charges you 12% to yeah you have -- credit -- these cost 200 dollars a year but -- you. 89%. Eight PR and and people out so it doesn't -- it take you want to eventually end up costing them. Much more so in that in the popular example you stand up in the long lines spending an hour and half. To get something that you could've gotten full day in new bit of money but not doing the right. The right try to -- This all the time is."

" Let me feel less for my point is if for offering all these incentives if everything's coming from the government all -- becoming too dependent on. Uncle Sam giving us all these incentive programs which at the end of the day may not help us but may help the economy."

" Right well I'm not for government intervention in the private sector. But I have to say that somebody have to do something until companies are doing something that create jobs and create. A stimulus in the economy the government is going to step -- so I think that. The bottom line for me -- everybody needs to take responsibility every homeowner I think that fellow Americans are smart enough to be able to see what's going on to be able to regroup which is what everybody's doing both business and privately. And figure out how they are going to live for the future. And B and and survive well and so we're all regrouping it's it's that's the time that it is and we have to really. Take responsibility. And it's not -- that irrational behavior but it's really. In practical behavior that we spent so much and that we've gotten ourselves in debt and we need to -- focused on getting out of that but I think that these incentive programs. And other ones like get a mean a lot of people are paying only seven you know retailers are. Are going down the 78%. And I'm looking for those 7% sales everybody is and I think need to just get back into balance and I think that's what's happening now. And I think that's going to continue for awhile."

" as we have to leave it there Stephen I know you'll be back with meeting thirty -- we talk about the personal income and spending numbers you can you can tell me why you agree or disagree on something that's. The great conversation guys dancing and dean Stephen thank you guys very much."