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<blockquote data-quote="moreluck" data-source="post: 1101646" data-attributes="member: 1246"><p><strong>Re: Obamanomics</strong></p><p></p><p>Obamanomics: U.S. Sees Biggest Income Drop In 20 Years…</p><p></p><p>Courtesy of those tax hikes Obama insisted on.</p><p></p><p>Via Bloomberg:</p><p style="margin-left: 20px">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.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">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.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">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. [...]</p> <p style="margin-left: 20px">The Bloomberg survey median called for incomes to fall 2.4 percent.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px"><strong>The slump in incomes last month was the biggest since January 1993</strong> and followed a 2.6 percent jump in December. Some companies paid dividends and employee bonuses earlier than usual before tax rates went up this year, removing a gain usually seen in January.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">The Commerce Department estimated the January level of wages was reduced by about $15 billion and December was boosted</p> <p style="margin-left: 20px"></p></blockquote><p></p>
[QUOTE="moreluck, post: 1101646, member: 1246"] [B]Re: Obamanomics[/B] Obamanomics: U.S. Sees Biggest Income Drop In 20 Years… Courtesy of those tax hikes Obama insisted on. Via Bloomberg: [INDENT]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. [...] The Bloomberg survey median called for incomes to fall 2.4 percent. [B]The slump in incomes last month was the biggest since January 1993[/B] and followed a 2.6 percent jump in December. Some companies paid dividends and employee bonuses earlier than usual before tax rates went up this year, removing a gain usually seen in January. The Commerce Department estimated the January level of wages was reduced by about $15 billion and December was boosted [/INDENT] [/QUOTE]
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