If they wish to keep their listeners, with donors writing checks to local affiliates, they must eventually tell the truth. Even liberals notice the smell, when you lie to them long enough.
And they report: No economic growth in June.
The pace of consumer spending stalled in June and personal incomes failed to increase, further evidence that the economic recovery slowed in the spring.
Personal spending was unchanged in June, the Commerce Department reported Tuesday. It was the third straight month of lackluster consumer demand. Incomes were also flat, the weakest showing in nine months.
The lack of growth for spending and incomes shows the economy ended the second quarter on a weak note. Many analysts believe growth will slow further in the second half of the year as high unemployment, shaky consumer confidence and renewed troubles in housing weigh on the year-old economic recovery.
Americans appear to be preparing for tough times. The personal savings rate rose to 6.4 percent of after-tax incomes in June, the highest reading in nearly a year. The savings rate is now about three times the 2.1 percent average for all of 2007, before the recession began.
Consumer spending is closely monitored because it accounts for 70 percent of total economic activity.
Note to The One: If you ram through outrageous federal takeovers of entire portions of the economy (like health care), demonstrate your incompetence and venality when an oil well blows up (by not picking up the phone to call the oil company...), put 39 million people on food stamps, and generally create anxiety about the Brave New World you have planned for us all, guess what?
People lose faith in the future, and sit on their cash. Given events of the past sixty months, what sane person would finance a car for the next sixty?
Even NPR, lead cheerleader for The One, can't keep up the pretense anymore.
You on yoh' own thea, Missah Prezident.
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