Grand Rapids, MI -- (SBWIRE) -- 07/23/2010 -- While economic news seems to rule the headlines, everyone from average consumers to business owners await news that a real turnaround is occurring. Financial news can be difficult to assess as so many factors are involved, including such things as business profit reports, consumer credit, and public and private debt. But is the collective ‘Spend Now – Pay Later’ mentality finally slowing down or coming to an end?

Dennis Tubbergen is a noted financial advisor and CEO of USA Wealth Management, LLC a federally registered investment advisory company. Tubbergen believes excessive debt is the reason for the economic mess we now find ourselves in and offers his opinions in his monthly newsletter Moving Markets?.

“When an individual, a business or a country borrows money, they are actually borrowing against their future production,” explains Tubbergen. “When any individual borrows against future production, a decision is made, whether consciously or not, to spend now and sacrifice later.”

And, according to a July 7, 2010 statement by the American Bankers Association, the number of consumers behind on their credit card payments fell to an eight-year low in the first quarter of 2010. One reason? Americans are cutting back on spending to repay some of their outstanding debt.

A July 16, 2010 Bloomberg Businessweek posting noted U.S. consumer confidence in July slumped to its lowest level in a year.

“Consumer spending is not likely to rebound to the levels needed to provide sustainable, economic fuel to the economy,” Tubbergen concludes. “There were red flags that the (lending) system was reaching capacity. It eventually did and now consumers are sacrificing, repaying debt instead of spending money.”

For more information on Dennis Tubbergen’s views, visit http://www.dennistubbergen.com.

The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, the information contained herein is not intended to constitute investment advice and should not be interpreted as a recommendation to buy, sell or hold a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.