Hurricane repairs and insurance payments lift both personal spending and income; prices in check. This sounds like temporary relief to me. In fact, it’s not all good news. The saving rate is still negative at -0.4 percent. So while the move was in a good direction, we’re still spending more than we’re saving.
I’ve tried that (back in my days of reckless abandonment — which were neither reckless nor abandoned). It doesn’t work.
Updated July 16, 2010 and originally published October 31, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.