Tuesday, June 28, 2011

An Obama recovery that no one is feeling

For the first time in a year, Americans have stopped spending more.

Consumer spending failed to budge from April to May, evidence that high gas prices and unemployment are squeezing household budgets. When adjusted for inflation, spending actually dropped 0.1 percent last month, the Commerce Department reported Monday.

April's consumer spending figures were revised to show a similar decline when adjusting for inflation. It marked the first two-month decline in inflation-adjusted spending since April 2009.
The full story is HERE.

Please check us out on Facebook and If you like what you see, please "Like" us. You can find us here.


larry said...

Obama is out of touch.

Maybe if he had to pay for his own golf outings, he'd start to feel Americans pain?

Bob said...

People are hording their cash because the don't know what tomorrow will bring with Obama's economy.