It's encouraging to know that when economics are tough, Americans still make healthy contributions to charity.

Even as the nation was heading into a major slowdown in 2007, philanthropic giving increased, if only slightly, said the Giving USA Foundation. Pledges and donations totaled $306.69 billion -- up by 1 percent.

Experts say it's too early to know whether charitable giving will fall this year, but they suspect it has declined given the $4 cost of a gallon of gasoline.

The wealthy may have tightened their belts, too. For example, donations fell by 21 percent -- to $56.5 million -- at last month's benefit for the New York-based Robin Hood Foundation, which is largely supported by hedge-fund managers. That guest list includes people with nine- and 10-figure incomes.

With the economic squeeze, some folks with modest incomes are, no doubt, reconsidering their charitable giving. If they cut back, that could be a real problem. "Those people won't make headlines because they're giving $100, not $100 million," Timothy Ogden, editor of Philanthropy Action, told the New York Times. "But they are the vast majority of donors, and most charities depend on them."

Most Americans are unhappy about the direction of the country, but they are keeping the wheels of commerce -- and the gears of charity -- turning. Maybe those economic stimulus checks from the federal government are paying off after all. We hope so.