It’s time for some numbers from the government. In February, consumer spending rose 0.1% and personal income grew 0.3%. Even though the income gain was higher than the spending gain as a percentage, we are on average spending more than we have available. Living above our means in the American way, and I don’t see that changing.
Here is the detailed analysis [pdf] from the Bureau of Economic Analysis. Take a look if you have nothing else to do this weekend.
Updated July 16, 2010 and originally published March 31, 2006. 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.