Acton Institute Powerblog

Mall Rats, Bureaucrats, and Credit Card Decline

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The Keynesians will have little to cheer about in this story. Yesterday I saw this report from CNN Money that said U.S. consumer credit card debt fell by 11 percent in 2011. Mississippians led the Union by reducing their card balance by 23 percent. While total household debt fell by only 1 percent last year, it is still a towering accomplishment when compared to the U.S. federal debt increase.

This is exactly the point Jordan Ballor and I made in our 2008 commentary “The Fiscal Responsibility of Mall Rats and Bureaucrats.” In that piece, we pointed out that the federal government is a significantly poorer steward of our resources when put up against the supposedly “materialistic” and “selfish” consumer.

The inability of the federal government to curtail spending should be considered a form of insanity when one simply looks at the numbers. Instead, as I pointed out before, government spending is now so sacred for some in the religious community, it is a shrine that must be encircled.

Ray Nothstine Ray Nothstine is Associate Editor at the Acton Institute, and Managing Editor of Religion & Liberty. In 2005 Ray graduated with a Master of Divinity (M.Div) degree from Asbury Theological Seminary in Wilmore, Ky. He also holds a B.A. in Political Science from The University of Mississippi in Oxford. Before coming to Acton, Ray worked as a free-lance writer for several organizations, including the Institute on Religion and Democracy. He gained ministry experience in churches in Mississippi and Kentucky. After college, he also served on the staff of U.S. Congressman Gene Taylor (D-Miss) in Gulfport in 2001-02. The son of a retired Air Force pilot, Ray has also lived in Okinawa, Philadelphia, New England, Hawaii, and Egypt.

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