Dealing With Debt

David Brooks writes that the recession has helped teach Americans about the dangers of excessive debt, “but there’s probably going to have to be a public crusade — like the ones against littering and smoking — to hammer the point home. Think Warren Buffett TV spots. Think Oprah. Think Tom Hanks. Somebody has to remind the country that excessive debt is selfish.” But he admits that this won’t be accomplished by just scolding the public. “Debt reduction has to be about renewal and prosperity, not pain and sacrifice. That means deficit reduction has to be embedded in policies that produce growth.”