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encouraging economic news

stevenash

By stevenash
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stevenash

stevenash

Posted
Posted

 Good news for consumers. Rising wages pushed incomes higher to start the second quarter, while spending increased the most for any month so far this year. Paired with strong gains in January and February, incomes are showing the strongest start to a year since 2014. Adjusting for rising prices in April, "real" (inflation-adjusted) consumer spending was up a healthy 0.2%. And the best news from today's report is that private sector wages and salaries accounted for almost all of the increase in income, while government redistribution was unchanged after rising for four consecutive months. If President Trump wants faster growth, he needs to slow the growth of (or outright reduce!) government benefits. Before the Panic of 2008, government transfers – Medicare, Medicaid, Social Security, disability, welfare, food stamps, and unemployment insurance – were roughly 14% of income. In early 2010, they peaked at 18.5%. Now they're around 17%, but not falling any further. Redistribution hurts growth because it shifts resources away from productive ventures and, among those getting the transfers, weakens work incentives. Along with the rising incomes in April, spending ticked up as well. Spending on goods rose 0.7%, and spending on services increased 0.3%. As always, we like to take a step back and look at the trend. While spending growth has outpaced income over the past year, incomes are up at a 4.2% annual rate in the past three months compared to a 3.1% pace for spending. Meanwhile, the financial obligations ratio - which compares debt and other recurring payments to income – is near the lowest levels seen in thirty years.

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new tobie

new tobie

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On 5/31/2017 at 7:02 AM, PhatMack19 said:

Obama's policies finally starting to pay off....

Trump hasn't done anything to pay off yet. If it was negative economy news after the first 6 months Obama would be getting the credit. Trump is the most disrespectful man in the history of politics.

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Englebert

Englebert

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1 hour ago, new tobie said:

Trump and his swamp can def. take credit for hatred being on the rise in America.

Your analytical skills are just non-existent aren't they? You parrot everything your Liberal gods tell you to believe. But what's sad is you don't have the will or the inclination to better yourself. I guess you must feel comfortable being a puppet. Most people have more self-respect than that.

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nappyroots

nappyroots

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15 hours ago, Englebert said:

Your analytical skills are just non-existent aren't they? You parrot everything your Liberal gods tell you to believe. But what's sad is you don't have the will or the inclination to better yourself. I guess you must feel comfortable being a puppet. Most people have more self-respect than that.

I have worked in a local refinery for 35 years. the refinery has cleaned its environmental mess up also. Although Trump wants to let them go back. I make a good six figure salary and don't mind helping out the elderly and the working poor. Rather help meals on wheels than the Trump family become richer.

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Hagar

Hagar

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Posted
17 hours ago, new tobie said:

Trump and his swamp can def. take credit for hatred being on the rise in America.

There always have been individual acts of hatred, since mans creation.  Always will be....... Are you aware that the rising hatred is predominantly on the ultra left?  Are you even aware that gangs of leftist are physically attacking individual or small groups of Trump supporters?  Would Trump take credit, or should he?  No.  I don't like many things those on the left do, but I don't hate them.  If you know your history, you have to realize that what they are doing is the exact same thing Hitler's people did.  They may not be Nazi's in the political sense, but their actions are right out of Hitlers game plan.  Scary stuff.

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Englebert

Englebert

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57 minutes ago, nappyroots said:

I have worked in a local refinery for 35 years. the refinery has cleaned its environmental mess up also. Although Trump wants to let them go back. I make a good six figure salary and don't mind helping out the elderly and the working poor. Rather help meals on wheels than the Trump family become richer.

So you just proved my post. And what is sad is you don't even realize it.

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LumRaiderFan

LumRaiderFan

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Posted
9 hours ago, nappyroots said:

I have worked in a local refinery for 35 years. the refinery has cleaned its environmental mess up also. Although Trump wants to let them go back. I make a good six figure salary and don't mind helping out the elderly and the working poor. Rather help meals on wheels than the Trump family become richer.

I work in refineries also...how does Trump want them to go back?  What does he want them to go back to?

Surely you can back your post up with facts.

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