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    Repiglican Roast

    A spirited discussion of public policy and current issues

    Name:
    Location: The mouth of being

    I'm furious about my squandered nation.

    Thursday, March 13, 2008

    Consumer Spending Down Again

    [...]
    Consumer spending is closely watched because it accounts for two-thirds of total economic activity. Many economists believe that the country will suffer a mild recession in the first half of this year as the economy is unable to withstand the blows from a prolonged slump in housing, record-high energy prices and a severe credit crisis brought on by soaring mortgage defaults.
    [...]

    The right wing, free market, deregulated privatized, globalized outsourced, regressive tax system theory that 10 to 20 percent of the population can sustain consumer spending while everyone else slips through the cracks is tested and fails.

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