According to a report by the Associated Press, consumer spending saw the largest gain in August in almost 8 years, due in large part to the Cash for Clunkers program.
Martin Crutsinger, economic writer for the AP writes, “The big jump in consumer spending, which accounts for 70 percent of total economic activity, is a good indication that the economy was returning to positive growth this summer.”
I think the above is a good sign and am hopeful things will continue upward.
The second point I would like to make occurred on CNN’s Rick Sanchez’ show today. It was reported that Democrat Baucus who wrote the junk bill regarding helath care reform has received over $1.7 million from the health industry since 2005. Hmmm most interesting.
Also, those who voted for a Public Option in health care reform have been give $3.5 million from the health industry….while those who opposed it received over $10 million from the health industry.
The wallets are open and the money is flowing and it’s not for the common person folks. What do you think?