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  1. #1
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    Default Are You Feeling The Recovery Yet? Yeah, You're Not Alone

    You're not alone:

    http://www.bloomberg.com/news/2013-0...t-incomes.html

    Consumer Spending in U.S. Climbs Even as Taxes Hurt Incomes

    <cite class="byline"> By Michelle Jamrisko - Mar 1, 2013

    </cite>Consumer spending in the U.S. rose in January even as incomes dropped by the most in 20 years, showing households were weathering the payroll-tax increase by socking away less money in the bank.


    Household purchases, which account for about 70 percent of the economy, climbed 0.2 percent after a 0.1 percent gain the prior month, a Commerce Department report showed today in Washington. The median estimate in a Bloomberg survey of 76 economists called for a 0.2 percent advance. Incomes slumped 3.6 percent, sending the saving rate down to the lowest level since November 2007.


    Employment gains, the rebound in housing and growing demand for autos will probably keep supporting consumer spending in the first quarter as the world’s largest economy picks up from an end-of-year slowdown. Even so, rising gasoline prices and the need to rebuild nest eggs may make it difficult for households to match last quarter’s performance.


    “It’s going to be touch and go for the consumer for the next few months,” said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pennsylvania, who correctly projected the 3.6 percent drop in income. “The consumer is going to be able to support the recovery, but they’re not going to be able to take it” to a higher level, he said.




    "The government is a child that has found their parents credit card, and spends knowing that they never have to reconcile the bill with their own money"-Shannon Churchill


  2. #2
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    Gas over $4.00 a gallon


    No recovery going on here...

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    Yeah ... I don't think pulling money out of your savings to cover everyday expenses is exactly what most had in mind when thinking about "recovery".
    I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.
    Thomas Jefferson


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    Quote Originally Posted by Kathianne View Post
    showing households were weathering the payroll-tax increase by socking away less money in the bank.
    http://www.bloomberg.com/news/2013-0...t-incomes.html
    Does that demonstrate the lie that the Payroll Tax cut was less effective than advertised? We've been told that's the best type of stimulus because it will be spent and increase the demand side.
    "when socialism fails, blame capitalism and demand more socialism." - A friend
    "You know the difference between libs and right-wingers? Libs STFU when evidence refutes their false beliefs." - Another friend
    “Don't waste your time with explanations: people only hear what they want to hear.” - Paulo Coelho


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    In terms of Jobs, I've seen a bit of recovery. When I was unemployed at the height of the recession I was lucky to get a response to an application. I had a total of 3 over the course of an entire year. I'm currently looking for a new job and have been getting a response every couple of weeks. So, things seem to be picking up there. Everything else is pretty much the opposite. For the first time ever since I started working, my net income is actually decreasing year over year.

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    Quote Originally Posted by CSM View Post
    Yeah ... I don't think pulling money out of your savings to cover everyday expenses is exactly what most had in mind when thinking about "recovery".
    It was always a false horse, in the idea that postponing the taxes, as a 'stimulus.' Seems little thought was given to the fact that when ending, it would cause pain. Meaning folks would wake up to the hurt of taxes.


    "The government is a child that has found their parents credit card, and spends knowing that they never have to reconcile the bill with their own money"-Shannon Churchill


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    I'm happy to have been raised by parents that grew up during the Great Depression. You learn things many people never think of. Those very lessons have saved my rear end during this weak economy. I am actually prospering. One thing is to take help where ever you can get it irrespective if its some lesbian with a green mohawk.

    Quote Originally Posted by Thunderknuckles View Post
    In terms of Jobs, I've seen a bit of recovery. When I was unemployed at the height of the recession I was lucky to get a response to an application. I had a total of 3 over the course of an entire year. I'm currently looking for a new job and have been getting a response every couple of weeks. So, things seem to be picking up there. Everything else is pretty much the opposite. For the first time ever since I started working, my net income is actually decreasing year over year.
    That's because you're in California.
    Last edited by tailfins; 03-01-2013 at 12:14 PM.
    Experienced Social Distancer ... waaaay before COVID.

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    Food prices are up
    medical prices are up
    gas prices are up....and now we get a 3 1/2% tax increase on top of it.
    Taxes are up on everything


    i see no "recovery"

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    This is all the QUIET before the STORM.

    The scare tactics of the Democrats, and Obama are only effective to those who still believe their vote for Obama was the smart vote.

    Eventually. I can't predict when. Those millions of Americans who were fooled into voting for Obama TWICE. Will come face to face with everything they have denied since he first announced he was running.

    OBAMA is still NOTHING BUT A PERFECT LIAR.

    No need to prove it to anyone here. The sequester idea was Obama's. And he's even lied about that.

    Just wait, and watch.
    I love to make Liberals Cry, and Whine.
    So, this is for them.
    GOD BLESS AMERICA - IN GOD WE TRUST !

  10. #10
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    How do you tell a communist? Well, it's someone who reads Marx and Lenin. And how do you tell an anti-Communist? It's someone who understands Marx and Lenin.

    Ronald Reagan

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    I have been getting more business lately than since about 2010. Many of the people in the construction trades are working all the time these days. Seagate has bought the Solyndra building and is in the process of renovations for technology research. Home prices are up and inventory is low. I like it!!!!
    A chance for a new beginning, like a dawn of reconciliation.

  12. #12
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    Quote Originally Posted by April15 View Post
    I have been getting more business lately than since about 2010. Many of the people in the construction trades are working all the time these days. Seagate has bought the Solyndra building and is in the process of renovations for technology research. Home prices are up and inventory is low. I like it!!!!

    Wow. You must really IMPRESS yourself. Since it is obvious. Nobody else is impressed with you.

    I can impress myself the same way. If somebody gives me a large check I wasn't expecting. Bet I would impress my family, just like you are trying to impress us.

    Or. I could tell you My Business has been growing, and my income has doubled.

    Do you care?
    Last edited by aboutime; 03-09-2013 at 09:40 PM.
    I love to make Liberals Cry, and Whine.
    So, this is for them.
    GOD BLESS AMERICA - IN GOD WE TRUST !

  13. #13
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    Bottom line is Obama will spend more time filling out his NCAA brackets then working on a solution to solve the budget mess he created


    How do you tell a communist? Well, it's someone who reads Marx and Lenin. And how do you tell an anti-Communist? It's someone who understands Marx and Lenin.

    Ronald Reagan

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