March 6th, 2009
11:12 PM ET

CNN Money Summit: Spend or save?

CNN's Ali Velshi and the CNN Money team take on the dismal February jobs report. How will the job market recover? Should you be saving your money or spending it to boost the economy?

Want to see the entire hour? Watch the CNN Money Summit Saturday at 8 pm ET.

Filed under: Ali Velshi • CNN Money Summit • Economy • Job Market
soundoff (15 Responses)
  1. Art

    Hi Ali, the job report is beyond dismal, it's more like pathetic. It's hard to believe just how fast things have gone south. I was out of work for 4 months. I'am very happy I found work, but, as for saving or spending, neither is going to work, at least for me. I don't have enough extra for either one. In fact I'am wondering if this job will last, what a awful feeling. As much as I remain optimistic, I feel depressed an angry at the same time. The folks in washington and big business have really let down the American people and it's core values. It's shamful to think that anyone would let this happen. I think we may be at a turning point in our history. We, as a country need to have accountablity from our elected officals and business leaders. Without it were headed for self-destruction. We can't let/afford these human emotions to run rampant. The {job] market is way to important. The consequences would be historical and tragic. On a brighter note, tomorrow is daylight savings time, nice! Thanks for reading, Art

    March 7, 2009 at 8:52 am |
  2. HOmi

    why don't they change the Mark to Market rule?

    March 7, 2009 at 8:02 am |
  3. Jennifer

    I am tired of hearing about the growth in "green" jobs. I have a B.S. degree from one of the largest and well respected universities in the south, and have over 16 years of professional working experience. I have since found myslef unemployed. What is the most disconcerting is that in November of 2008 I earned my LEED-AP accreditation (a U.S.G.B.C program that rates the sustainability of buildings). This was not cheap or easy. I thought this would increase my marketability, but am even more frustrated now because it has done absolutely nothing to help me find work. I wish someone would tell me where all these "green" jobs are.

    March 7, 2009 at 7:23 am |
  4. Alexis AMBERG

    Now that the new underwriting guidelines for the Home Affordable Modification just came out March 4, why are the lenders now following it? I called few major lenders and all they can say is to call them every week for an update? What is up with that?

    March 7, 2009 at 1:55 am |
  5. Jennifer

    I know this is not related to spening or saving, but wanted to get this out somewhere, where someone would see this. I with the rest of the world heard that the unemployment rate hit an all time low since the 80's. I have a really great idea on getting people who are unemployed some money back in their wallets. It may not be much, but some money is better than no money at all. I have a small craft business that needs plenty of volunteers that once I can get it off the ground I would be willing to share the profits. But having a hard time getting anyone to take any notice to this neat idea.

    March 7, 2009 at 1:31 am |
  6. Chris Bartko

    you should do what you feel comfotable with dont matter unless the ceos of all these big companies dont be smart in what they do

    March 7, 2009 at 12:56 am |
  7. Roger, Iowa

    Walt Disney's Uncle Scroog Once stated in a cartoon for young persons; Live smarter- not harder.

    March 7, 2009 at 12:27 am |
  8. Robert Sutherland

    My credit score is in the mid fair range is there any good mortage loans out their for people like me?

    March 7, 2009 at 12:11 am |
  9. Bill

    The government needs to encourage people to spend money. If the the government would give tax credits to homeowners for the costs of repairs and improvements to thier homes and give tax credits to small businesses for the costs of repairs and improvements to their business properties. This would immediately create shovel ready projects and generate jobs across the country.

    March 6, 2009 at 11:56 pm |
  10. Georgie

    Invest, spend, save?? What? Money? What are you kidding me!
    Income covers expensive expenses: rent/mortgage, transportation, gas/electricity, clothes; necessary living stuff-BOTTOMLINE!
    Maybe going to the source/cause of the problem first could help fine the solution??

    March 6, 2009 at 11:51 pm |
  11. Gary

    I haven't heard anything about the impending reset of the option ARMs and Alt-A mortgages. This is supposed to shift into high gear in April. Could you guys comment on this?

    March 6, 2009 at 11:46 pm |
  12. Larry G

    Reading thru these blogs I see people discuss what the problems are and how to cope with them. Whats needed is solutions. I see some so-called solutions. Mostly wrong. They'll say things like.."get money into peoples hand so they can spend it." OK, but, that doesnt fix anything in the long term. Heres an example. Americans 'spend' over 1 trillion dollars each year that goes...out of the country. So we should buy American then? Not necessarily. What we need to do is produce actual things that people the world over need. You could import 100 trillion dollars worth of stuff if you exported 101 trillion dollars worth of stuff. Also, what kinds of jobs are now expanding? Healthcare and government jobs. Is that good? Well......No. What kind of product is a longer healthier life or governmental bureaucracy. See theres a difference between spending and investing. Building a factory is an investment. Getting treatment for diabetes is an expense. Until America begins to produce stuff that promotes a higher standard of living. Stuff people need...not just consume..things wont improve. Thank you, LPG.

    March 6, 2009 at 11:39 pm |
  13. Bobby

    If you are unemployed, why not try the Military? Great Benefits, a secure job, and you get money for College. Tell me a Company out there that can beat the benefits the military gives?


    March 6, 2009 at 11:33 pm |
  14. Melody Green

    Why doesn't the government force all credit card companies to lower their interest rates, so we can pay off our credit card debt?
    We can never pay it off with the interest rates so high, that the amount you pay, is put back on from interest charges, even if you don't use the card to put on new charges.

    We all have gas cards, credit cards.....we need lower interest rates.

    March 6, 2009 at 11:28 pm |
  15. Fredrick

    I am a health care profession with annual income 170,000 and my wife is a nurse. We do not fear the recession since it makes every luxury goods cheaper than before. I love this recession and I really want to see unemployement rate rised to double digits. So many people in US is so lazy and they did not deserve a stable job. In this recession, only those are strong enough and those are well-equipped can survive and enjoy and those who are lazy and not well-equipped should be extinct from this recession. This is natural selection and nothing special.
    I do like to see those guys who keep on talking in CNN so as to keep their jobs, they are poor, keep on talk and talk and nothing can be done. I do like to see one day they will line up in unemployment line and receive interview by CNN. This is going to be interesting.

    March 6, 2009 at 11:28 pm |