OK, so there's no doubt about the fact that this econ is an underachiever --especially w/ employment. The drag (imho) is not (like BI's trying to tell us) credit. I blame the left's war on commerce.
The problem is uncertainty, regarding future employment and future expenses at the individual level. A growing economy with obvious job prospects greatly reduces employment uncertainty. Future expenses are a little more difficult, but it’s not as if we don’t know where the increased expense is occurring.