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IPFS News Link • Economy - Economics USA

Personal incomes fall 1.3% on stimulus timing Real consumer spending falls 0.1%, third drop in pa

08/04/2009 • Market Watch

Dear Fellow Patriots I hope you always consider the source when reading anything our government puts out. Keep in mind they have revised the manner in which they report so the reality is things are worse then they say. On to the story... Personal incomes of U.S. residents fell 1.3% in June, reversing the 1.3% gain in May that was due to a one-time stimulus payment to Social Security recipients, the Commerce Department reported Tuesday. Excluding the one-time payment in May, incomes fell 0.1% in June after a decline of less than 0.1% in May. Incomes are down this year despite the on-going prop to incomes from the stimulus, including tax credits and expanded unemployment benefits.

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