Hope!
Or is it Change! Middle Class Slams the Brakes on Spending
Middle-class Americans made their deepest spending cuts in more than two decades, slashing spending on such discretionary items as restaurant meals and alcohol during the recession.We're hunkering down to wait out this administration. So the Democrats can play hell and astroturf Google and accept illegal foreign donations all they want, but people aren't buying their nonsense. They're looking at the trillion dollar deficits and they know that they mean higher taxes and desperate times ahead. If the Republicans can just contain their own idiocy and take a lesson from the tea parties they could put an end to this, but whether they will or not remains to be seen. Just please, no third party.
Households in the middle fifth of the population sliced their average annual spending to $41,150 in 2009, the Labor Department said Tuesday in its annual spending breakdown. That was down 3.1% from 2007 and 3.5% from 2008, the steepest one-year drop since records began in 1984. The drop came even as those households' after-tax income remained relatively stable over the two years, at an average $45,199.
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