Matthew D. Shapiro

Shapiro says Americans' low spending reflects "cruel lesson" about the dangers of debt

an In The Media Reference

"The economy’s real drag: Us" - Washington Post. 5/8/2016.

Lower consumer spending is contributing to America's sluggish economy. Rather than borrowing and spending, Americans are repaying old debt and saving more. Why? Matthew Shapiro says "people got a cruel lesson about [the dangers] of debt” during the housing bubble and recession, when mortgages and credit card debt soared. Shapiro says that if Americans are able to keep saving, household spending may continue to rise at a slow and steady pace.


Matthew D. Shapiro

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