"Consumer spending PLUNGED in September by the largest amount in nine months, reflecting the end of the government's Cash for Clunkers auto sales program. Incomes, the fuel for future spending, were flat.
While the government reported that the overall economy grew in the July-September period, signaling the end of the worst recession in seven decades, the weakness in spending and incomes as the quarter ended UNDERSCORES THE FRAGILITY OF THE RECOVERY".
Conclusion: WE STILL HAVE A LONG WAY TO GO BEFORE WE ACHIEVE A FULL AND SUSTAINED RECOVERY
yes you're correct long way to go, but then we will wait for the report after November as October to November are usually the months when theres an increase in spending and travel too because of Christmas and Thanksgiving......
Yes, Cash for Clunkers cost the tax payers 24,000 dollars per car! We should have just given cars away!
The flat income and spending numbers as well as continued high unemployment are troubling. Worse is huge government entitlements like health care and the cap and trade tax which will be real job killers in 2010. In addition the Bush tax cuts are set to expire, and likely will as the government looks for more and more revenue to spend on their hair brained schemes, further crimping consumer spending and limiting job creation.
by fishskinfreak20086 years ago
Web-site/URL: http://news.yahoo.com/s/nm/us_usa_taxes_pollLooks like DEMOCRATS still have at least SOME support
by fishskinfreak20087 years ago
http://news.yahoo.com/s/nm/20100122/ts_nm/us_obama"Let me dispel this notion that we were somehow focused on that (healthcare) and so as a consequence not focused on the economy. First of all, all I think about is...
by cliffordh7 years ago
I was one of many individuals yesterday that, was disappointed in the Senateâ��s refusal to fund emergency unemployment benefits for millions of Americans across the country who, were in desperate need of it, using...
by MikeNV6 years ago
When these Tax "Breaks" expire... you know the ones put into place by that Evil Bastard Bush...Will they not effect those under $250,000? Of course Obama can just say he didn't raise them... he just let...
by uncorrectedvision5 years ago
It should be obvious to the objective that the programs pursued by Barack Obama have failed. Unemployment grinds on at over 9% , even as the ranks of the hard core unemployed, no longer counted in that figure,...
by logic,commonsense6 years ago
Read an article on MSN that the projected deficit for this year is 1.5 trillion dollars. Makes bush look like a piker with his measly 3-400 billion dollar deficits.Course there will be those that forget that bush...
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