Very "week" indeed

I wonder what they are spending that money on? Cell phones, TV's, iPods.......things not necessary I would bet. You can't blame people financial irresponsibility on the government or Bush. The economy is strong no matter what spin you put on it.

You can BS all you want, this report is clear-- the majority of American families are spending EVERY CENT they make plus dipping into their past savings. If they were doing as well as Bush makes it appear this would not be the case. The GDP growth figures do not show there was a spike in spending so the excuse that people just want to spend more by dipping into their savings does not track.

What this Dept. of Commerce Report supports is the Census Bureau reports that show after tax and inflation wages for the average family is DOWN. It is true that the average gross earnings are UP but not after higher costs and higher local taxes are considered.

Your contention that this is not a serious matter is also disputed by the Dept. of Commerce--

"The study went on to say the young and the poor have the most problem saving. This could be a problem for millions of the baby boomers getting ready to retire the report said." That is not a LITTLE Problem it is a SERIOUS PROBLEM! Bush employs the same tactics in everything he does. He uses ONLY those facts that seem to support what he wants us to accept. He ignores any other information that shows what he is saying is not as he claims. He has done this with the economy, jobs and Iraq.

Go to wal-mart, go to Target, look at all the nonsense people spend their money on col.  Bush DOES NOT CONTROL YOUR PERSONAL FINANCES, do you understand this basic fact?

LOL.  I have shown how incomes are up, and now start tossing in "higher local taxes" to somehow try and blow it off. 

Bush has absolutely nothing to do with this....nothing at all.  Once again col, what are the poor and young spending thier money on?  You need start understanding that someones irresponsibility and poor financial planning is not the fault of Bush.  If someone is foolish enough to think an iPod is more valuable that rent, then too bad.

Personal responsibility is the topic of todays show. 

The report looks at half of the equation. It looks at the expenditure side of the whole thing, only seeing what people are doing with their money in a numerical sense and not looking at why they're spending, or what they're spending on.

How is my savings account? Terrible! I've been very dumb with my money since graduating from college, but am on the gradual path to fix that. In a year I should be debt-free and be steadily building up my savings. I also have a very nice pile of money already put aside in a 401(k). The consequence of digging out of debt and saving? I can't get that new computer I want just yet. I can't get the new iPod, and my car could probably do to have some serious tune-up work done on it.

The apartment complex I live in is definitely "low income" but do you know how many BMWs I see in the parking lot? My neighbor next door has 3 kids and herself in a 1 bedroom apartment but has a huge high-def television and a nice new car. Similar situation for the folks across the hall from me.

Me? 27" tube TV, a cheap car, hand-me-down furniture and not a whole lot else. I'm not poor by any stretch, but I'm not rich either... but that's largely because I'm making up for past financial mistakes.

Dipping into savings and having a negative savings rate is only a valid issue if it's because it's required to purchase necessities. If someone is breaking the bank for a new sports car or fancy doodad, then it isn't the fault of the economy. Increased credit limits and a lack of personal financial responsibility has been a huge problem for the past several years. Kids are used to their parents bailing them out. Families are going into debt for annual vacations. Show me a strong statistic that says people are forced to live a lower standard of life and are unable to pay for necessities, and then maybe you have a point.

But just saying "people are saving less" is only looking at a small part of the overall picture.

And it's not the government's job to save people from their own stupidity.

Island Dog

The issue is that what Bush is telling us about how great the economy is because of his policies is simply not true for the vast majority of Americans. He is the one that claims we are all doing so well under his leadership but the truth is that only a few, most of whom are at the top of the income ladder, are experience the good fortune Bush is talking about!

I know many people could manager their money better however none of us does a poor a job at managing our financial affairs as Bush has done with the U.S. Financial affairs. Bush took over with a balanced budget and turned into a raging deficit that has added over $3 Trillion to the national debt and several hundred Billion per year in interest on that debt. Talking about living beyond you means. Bush needs one of those debt counseling services you see advertising on TV! He is running this country the way he ran the two oil companies he started—INTO THE GROUND! Now all George needs is to find someone with about $3 Trillion Dollars they do not need and FIX the mess he has created! I wonder if Daddy can help little George with this mess he has created!

"Middle and Low Income Americans are in Trouble"

Yep, Dems won, sadly.

The issue is that what Bush is telling us about how great the economy is because of his policies is simply not true for the vast majority of Americans. He is the one that claims we are all doing so well under his leadership but the truth is that only a few, most of whom are at the top of the income ladder, are experience the good fortune Bush is talking about![/quote] [quote]I know many people could manager their money better however none of us does a poor a job at managing our financial affairs as Bush has done with the U.S. Financial affairs. Bush took over with a balanced budget and turned into a raging deficit that has added over $3 Trillion to the national debt and several hundred Billion per year in interest on that debt. T

Col, the economy is donig very well.  I see you completely ignored the two posts above yours that explained that someones pesonal finances and their mismanagement of money is NOT  the fault of the federal government, or Bush.  You don't offer a solution, it's just another blame Bush for something he has no contorl over post.


LOL.

Once again, this has nothing to do with someones personal finances.  Now you go off on a rant about Bush.