Personal Finance Buzz

There are signs of economic recovery slowly appearing but the changing regulatory environment means that it will not be business as usual even when the economy is back on the growth track

In Canada, as in the United States, the recovery has hit a menacing roadblock – rising consumer debt. As Canadian consumers begin to worry about their debt levels, spending is dropping off — and that is holding back the economic recovery.

Recent economic improvements have seen consumers use their credit card accounts slightly more often in recent months, but many are still cautious about carrying too much debt from one month to the next, according to a report from USA Today. As a result, the economy’s recovery isn’t coming quite as quickly as it could be.

Did you receive an economic stimulus payment in 2008? Did you get the full amount? If you answered no to either of those questions then you may still have a shot at getting an economic stimulus payment in 2009 as a result of the Recovery Rebate Credit.

What shape do you think the economic recovery will take? U, V or W?

Ben Bernanke sounds upbeat about the economy, and lays the groundwork for withdrawal from economic stimulus.