Spending and Saving
June 1, 2009 Leave a comment
Well everybody, how are things going this beautiful first week of June? The weather in Jackson has been gorgeous and I am planning on finding a pool to enjoy sometime soon. I know the weather in my hometown of Tracy has been hot hot hot but is a little balmier now. I expect to find the pool feeling fine come middle of July. Mom, I love you, I can’t wait to enjoy some pulled pork by the pool!
First item of business today in what may be a very busy blogging day is consumer spending and saving! As everyone knows we are in the midst of a recession. Some have said this is the worst since the Great Depression. I am going to leave that judgment for history and those more familiar with the system.
Here are the statistics: Consumer spending dipped in April by .1%. This is the second straight month consumers cut back though economists were expecting a .2% cut. Future spending jumped .5% due to “tax cuts and benefit payments”. Combine these together and you notice that consumers are saving their money.
Saving money is good people! When you save your financial outlook is happier, encouraging you to spend your money wisely. When you spend wisely we do not have the mortage crisis’ like we had starting 2 years ago. Yay for the saving American consumer!