NEWSWEEK asks, “Is the economy really on the rebound?” Here’s the answer:
For every green shoot of hope that pokes up through the soil, there will be some other growth that makes you realize there are businesses pushing up daisies.
Speaking as a small business owner, I can only agree. Everyone of my clients and vendors are praying for a ray of light. So, am I.
In other economic news, with Congress back in session, both the House and Senate are “considering a credit card bill of rights to limit the ability of credit card companies to raise interest rates on existing balances and to require greater disclosure.” This is good news for consumers who are sinking in debt:
White House economic adviser Larry Summers said people need to save more, but that the government also needs to curb credit card pitches that addict people to plastic.
Summers is right on both counts. Let’s hope Congress can reign in the credit card companies.