July reports show spending more, making less

In this article from CNN Money, the Commerce Department reported consumer income fell by 0.7% while consumer spending went up 0.2% in July 2008.  No wonder the Consumer Debt Clock is exceeding $14 trillion in debt.  America made less money in the month of July, but overspent their incomes AGAIN.  Logically we would expect that when people [...] Imported on 08/30/08 by Eric Swanson
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