Personal income is plunging as inflation rises and the stimulus, a short-term, temporary benefit, fades, Fox business reports.
Personal income tumbled in April as the prior month’s boost from stimulus checks waned and inflation rose exceedingly high.
Personal income declined 13.1% month over month, less than the 14.1% decline that economists surveyed by Refinitiv were anticipating. Incomes surged by a downwardly revised record 20.9% in March as the government sent out $1,400 checks to most Americans.
Consumer spending, which accounts for two-thirds of U.S. economic activity, edged up 0.5%, in line with estimates. Spending was revised up to 4.7% last month, from the initial 4.2% print.
Meanwhile, core personal consumption expenditures, which exclude food and energy, rose 0.7% month over month and 3.1% from the prior year, both exceeding the respective 0.6% and 2.9% that analysts were expecting. The 3.1% increase was the biggest in at least 28 years and the 1.2 percentage point increase from March’s upwardly revised 1.9% year-over-year print was the largest since recordkeeping began in 1960.
Democrats have proven themselves incapable of Governing for over 100 years. They have probably been stealing elections for that long too. Unless the whole Country is just insanely stupid, Democrats have to be stealing elections.
(S)elections have consequences.
You can only lie with impunity when the serfs don’t feel any of the repercussions of totalitarian infiltrators running the country your ancestors built into the ground by any means necessary.