Saturday, August 13, 2011

While Wall Street Flails, Average Everyday Job Creators Keep Economy Chugging Along

Job creators, by which I mean average Americans going out into the world and buying goods and service, seem to be one of the few bright spots in the US Economy. Even as Wall Street flails around like a cat in a bath tub, regular every day Joe Shmoe's are keeping the economy afloat through improved consumer spending.

Consumers, who drive most economic growth, spent more on cars, furniture, electronics and other goods in July — and more in May and June than previously thought. That burst of activity is encouraging because it shows many Americans were willing to spend despite high unemployment, scant pay raises, steep gas prices and diminished wealth.

If it keeps up, the economy might rebound after growing at an annual rate of just 0.8 percent in the first half of 2011.

Woot! Let's hear it for Job Creators!

And what say we give these Job Creators some more tax incentives with Obama's suggestion to renew the payroll tax holiday and Obama's extended earned income tax credit for lower wage job creators...after all, babies are some of the biggest drivers of consumer spending in America.

No comments: