Joe six pack is refinancing....and not spending?

Our friends at the AP had a story on MSNBC about people who refi, gets cash out, and don't spend it! How un-American...don't those folks know that it is their duty to go out and buy something? Didn't W tell us after 9/11 that we needed to go out and shop?? It seems that those 20 or so Americans that still have some equity left in their homes have decided to refi, take the cash, and oh my, pay their bills, go to grad school, or even, get ready for this, save their money! Granted, the economy could benefit from a little consumer spending right about now, but if people would have been doing these things all along, we wouldn't be in the jam that we are in now.

APArticle on MSNBC....People are keeping their cash!