Too much debt? Somebody didn't get Paul Krugman's memo. According to him, we don't have nearly enough.

Obama too. Isn't he going to ask for another increase in the debt ceiling?

In the US, the key to the economic outlook is consumers, whose spending accounts for 71 percent of GDP, but they're now embarking on a saving spree to replace their 25-year borrowing and spending binge. And there's no other sector â€" government, the Federal Reserve, or the private sector â€" that can provide meaningful economic growth in the next year or so.

Well, consumer spending isn't going to increase any time soon, the wages have to rise before spending can actually really happen.