This may look good but beware: The prime minister isn't saving money; he's only spending it. With him as chef we could eventually wind up broke. Let's see what's on the spending menu: higher birth and parental benefits; a higher standard of living minimum, which means the government will have to spend more money on social benefits to most families; higher pensions; and the biggest hit of them all — lower taxes for all but the richest families. It makes sense to increase pensions because rent levels are also going up. A 17,000 Kč ($690) gift to families with newborn babies? Very well — that shouldn't be too expensive, considering the birthrate in this country. But giving parents with small children 7,400 Kč every month will cost a total of 12 billion Kč a year. Together with sick leave and other benefits, we are talking about 40 billion Kč in new social benefit spending. It's fair to help out young families. However, a government that wants to hand out so much in benefits should also say where it plans to get the money for the additional spending. We have seen nothing of the sort. Paroubek was fortunate enough to inherit a sound economy. His government is collecting a lot of money, which makes any spending less visible. Today all social benefits, not including pensions, cost more than 120 billion Kč. People should use their money in a way that makes economic sense. Those who know the lentil soup tradition are well aware of this. Better not eat your lunch at Paroubek's, Nádoba writes.

The season to be merry is over. For many people it's time to sober up and pay attention to their debts, and not just the ones made over Christmas, Pavel Verner writes in Právo Dec. 27.

Czech consumers borrowed 7 billion Kč this Christmas, and that's only counting bank loans. Overall household debt rose to a frightening 415 billion Kč at the end of 2005. Once again, this figure only takes into account money borrowed from banks.

There is no stopping the rise in debt. On the contrary, it's growing rapidly, by 30 percent a year. Every seventh household can no longer cover its debts and tries to pay off one loan by taking another.

Buying on credit is as obsessive as gambling. Generosity was the original idea behind loans. Loans allowed people to buy something they badly needed, something important, immediately. It wasn't necessary to save money for years. Covering a debt made to buy a house, apartment or land became commonplace for many people in developed countries. They learned to live with the debt because it made sense to have a place to stay. However, the lending done this Christmas involved consumer credits. This is debt taken to buy things people don't really need, things a sensible person can do without if he doesn't have enough money to buy them. While a mortgage loan points to a person's sense of responsibility, taking a loan to finance a vacation or Christmas gifts is irresponsible. This Christmas, common sense fell victim to advertising lies that holiday harmony can be found in commercial consumption. Many Czech families are now waking up to the fact that debt has to be paid. Unlike the postman, a bailiff doesn't have to ring twice, Verner writes.