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Sixty-two scholars have signed on to a report by the Institute for American Values and other think tanks called, For a New Thrift: Confronting the Debt Culture . . . it’s one of the most important think-tank reports you’ll read this year. David Brooks, The Great Seduction, June 10, 2008, The New York Times WE ARE LAUNCHING a national campaign to confront the linked problems of high rates of personal and societal debt, low savings, and growing inequality. In this campaign, we will propose initiatives for a new thrift culture that can provide competitive alternatives to the current debt culture. Overindebtedness has become an American way of life. The national debt has ballooned in recent years, the savings rate currently stands below zero, and roughly 2 million more Americans are likely to lose their homes in the coming year. In addition, many families are carrying high balances on a fistful of credit cards, raiding equity in their homes to pay for short-term wants and needs, and putting their faith in the lottery as the only way out of debt. Articles: Old School Banking Will Save Us from Debt A Return to Thrift Thrift Is the New Fashion "Pro-thrift" Campaign Pushed Barbara Dafoe Whitehead and Rita Haynes on WBUR’s "On Point" The Great Seduction A Nation in Debt Give Credit Unions the Credit They Deserve
Let's Make it Cool to Save
Economy Fitful, Americans
Start to Pay as They Go Time to Make Outsaving
the Joneses a Reality Forget Easy Money,
Try Saving a Few Bucks American Apostle
of Thrift
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