"Amercian consumers have a lot of credit available. They have been deleveraging and their home values have been increasing. It is the uncertainty about the future that is keeping them from using it to get the economy moving again."Firstly, I would argue that it isn't consumption that ultimately drives the economy, but rather production which is increased via savings and investment. Production has to come first or their is nothing to consume.
Secondly, are we really to believe that to get the economy moving, we should just be going out and spending as much as we can, even if we have to max out the limits on our credit cards and mortgage our homes to the hilt? This is like the old joke that goes "I can't be broke, I still have checks!"
If this is the advice that the financial "experts" are giving to the government, is it really any wonder why they have run up a $16,000,000,0000,000 debt?