Consumer Addicts
CBS
Transcript
[Music] hey everybody Welcome to first look I'm Rome Harman Katie corck is uh out shooting a story um and uh Anthony Mason here is our uh our business and economics correspondent to talk about a story that he's working on for tonight's broadcast so let's start with Anthony and then I'll give you a little more fill in on what we're doing um there's a government report today Anthony about about savings rate or I should say non savings lack of a savings rate is a better word for it we are basically spending we aren't saving it's really scary I mean and I think a lot of us are in that position you know that uh it's like the worst savings rate since the depression it's a negative savings rate we've had a negative savings rate in this country now for 23 months it's become basically we're like we're consumer addicts we can't stop spending yeah I mean I I think uh when I saw the the government report that came out early this morning it it reminded me I think I don't know the statistics and I know you do uh about where the United States ranks in terms of savings rates as compared to other developed countries and we don't do so well I no we're way down on the list and and I think it's it's if you go back like a decade we were saving like 4% if you go back like 25 years it was in double digits so it it's not only bad but it's getting worse real fast well we're going to uh both Anthony and I are going to resist the temptation to show you what's in our wallet uh uh today uh not just the credit cards but if we opened out the little part where the money supposed to be you would find not very much in mine I'd say so thanks Anthony we look forward to that report and uh we also have uh uh a bunch of interesting things that we're working on Mark Phillips is in Paris tracking the U Conference of scientists uh who are looking at climate change Mark was way out ahead of our competition with that story last week because he got an advanced look at a part of that report and uh the scientists there finally reached consensus about just how serious uh the situation is when it comes to climate change and the state of the earth and there's not much more that we can think of that's that's more important than that also Arman Kayan our investigative correspondent has an exclusive story tonight about the toll not uh physical toll but psychological toll particularly on children along the Gulf Coast all these months after Katrina um many many children thousands uh of children are suffering uh from depression uh along the Gulf Coast and it's a very sobering and difficult uh story that Armen is working on we have a fun story at the end of the broadcast about a new approach to Super Bowl ads kind of another Katie cck exclusive and then Katie will be anchoring for Miami tomorrow night in advance of the uh of the Super Bowl so hope you tune in tonight and uh thanks for watching first look thanks Anthony thanks