Editorial: Do your part for the economy
The stock market reopened for business Monday for the first time following the Sept. 11 attacks. In its wake, President George W. Bush urged all Americans to go back to work and to invest in the market in order to keep the economy running.
Everyone should do his or her part to help in maintaining the nation?s economy and to keep from entering a recession or a depression. Each person should contribute accordingly though and not put himself or herself in debt by trying to do a good deed.
For much of the nation, investing in the stock market is a good idea. As New York Mayor Rudolph Giuliani pointed out, just $20 invested by each American would help the nation drastically. For working adults, this is a good idea. With the market already down before the attacks, it is crucial that the nation not be crippled by a worse economic blow.
For those who do not make a great deal of money, investing may not be the best way to help. After all, few college students have the monetary resources to pay a broker or start financial funds and Internet stock trading accounts of their own. Instead, the best way for such people to help is by consuming goods.
Don?t stop buying things because of the fear that there may be a recession. Hoarding goods and money only helps precipitate economic failure. By continuing to shop and buy goods, we can all help keep the economy strong.
This doesn?t mean we should all go out and max out our credit cards. That would generate debt and possibly panic. Instead, we should cut spending a bit to accommodate for possible, future economic hardships but not stop shopping altogether.
It will undoubtedly take a long time to get the nation back on its financial and economic track, but if everyone lends a hand, the journey will hasten toward productivity.