In this March 7, 2012, file photo shows job seekers standing line during the Career Expo job fair, in Portland, Ore.
Associated Press
Consumer spending is the key to the economic recovery. Consumer spending went up 0.8 percent in February, the best it has done in seven months, and retail sales increased 1.1 percent in February, the biggest gain in five months. But these gains might not last, according to Bloomberg.
Real household income after taxes dropped the second month in a row in February and is only up 0.3 percent compared with February 2011. Consumer spending has received help from saving less, and acquiring more debt may be short lived, according to the article.
It seems like consumers are being forced to save less and acquire more debt, according to Bloomberg. Nonrevolving debt is continually increasing as vehicle sales increase, and the slow economy leaves students in school or forces them back there. Tuition costs continue to increase, which encourages more borrowing, and interest from overdue loans piles up.
Click to read the entire article at Bloomberg
EMAIL: bbullock@desnews.com
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Are we headed for another recession? Yes and it will soon be in a depression unless our next President does the following:
#1: Stop the out of control government spending and get our massive still exploding national debt under control.
More..
If America elects mit we will be heading over the cliff that mit's buddies pushed us up against last time their puppet was in charge. Only this time, they will allow America to fail in order to protect their own ilk.
Don't worry More..
We need a policy that creates jobs, sustainable jobs and not the Solyndra non-jobs that our president touted and that made his sycophants bundles of money. It's not a foolish mistake that someone with Romney's experience would have make. More..