KidRocks
DP Veteran
- Joined
- Aug 17, 2005
- Messages
- 1,337
- Reaction score
- 16
- Location
- right here
- Gender
- Male
- Political Leaning
- Liberal
What?
Don't blame me for this potential, economy-crippling extravaganza, I don't deal in home equity loans or credit-cards, or sell assets, I'm really just a poor Mexican-American.
Damn Republicans, that's all we need now, a recession. :roll:
Negative savings rate could bring recession -- economists - Dec. 21, 2006
NEW YORK (CNNMoney.com) -- Don't call us the Grinch for bringing this up with Christmas right around the corner, but Americans are spending more than they're earning, and some critics say the economy is at risk because of this.
Friday morning the government will report on personal income and spending for November. For the last 19 months, the report has shown a negative savings rate. That means American consumers are spending more than they're taking home after taxes. The savings rate was a negative 0.6 percent in October. In other words, the typical American spent $100.60 for every $100of take home pay.
Don't blame me for this potential, economy-crippling extravaganza, I don't deal in home equity loans or credit-cards, or sell assets, I'm really just a poor Mexican-American.
Damn Republicans, that's all we need now, a recession. :roll:
Negative savings rate could bring recession -- economists - Dec. 21, 2006
NEW YORK (CNNMoney.com) -- Don't call us the Grinch for bringing this up with Christmas right around the corner, but Americans are spending more than they're earning, and some critics say the economy is at risk because of this.
Friday morning the government will report on personal income and spending for November. For the last 19 months, the report has shown a negative savings rate. That means American consumers are spending more than they're taking home after taxes. The savings rate was a negative 0.6 percent in October. In other words, the typical American spent $100.60 for every $100of take home pay.