Consumer Spending Is OK, Not Great

According to the Wall Street Journal, in the second quarter “American consumers spent at the strongest pace since late 2014.” Is that true?

Sure, if you look at Q2 compared to Q1. But why would you? A better measure is simple year-over-year growth, and that shows nothing special at all:

Consumer spending growth is holding steady, which is good news. But it certainly isn’t setting any records.

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We've never been very good at being conservative.

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This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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