Spending Soars, Savings Suffer
Oct 1st, 2009 | By Ian Mathias | Category: Politics & EconomicsPersonal spending soared 1.3% in August, the biggest monthly leap since 2001, the Commerce Department announced today. Of course, this $129 billion jump in consumption “shows strength in August, indicating some economic improvement,” as CNN writes. A quick look at the chart reveals that the once sober American consumer is starting to fall off the wagon yet again.