Americans to face tougher 2013 on rising prices, taxes

Discussion in 'Economy' started by Nova78, Oct 25, 2012.

  1. Nova78
    Offline

    Nova78 Silver Member

    Joined:
    Dec 19, 2011
    Messages:
    1,915
    Thanks Received:
    254
    Trophy Points:
    98
    Location:
    Colorado
    Ratings:
    +267
    Analysis: Americans to face tougher 2013 on rising prices, taxes | Financial Headlines | Comcast

    NEW YORK — Consumers will have to dig deeper into their pockets next year to pay for costlier healthcare, more expensive grocery bills and higher taxes, an extra drag on the country's already slow-moving economy.

    The additional outlays look set to test the resilience of consumers, whose spending accounts for around two-thirds of the U.S. economy.

    "We think it's going to be a difficult six to nine months," said Scott Hoyt, senior director of consumer economics for Moody's Analytics. "If anything, conditions are likely to get worse, particularly at the start of the year."

    The strength of consumer spending has surprised some economists, given unemployment near 8 percent and anemic wage growth. Consumer spending has cushioned the blow to the United States from slower foreign demand for its goods.

    U.S. households have shed about $880 billion in debt since the peak in the first quarter of 2008, according to Federal Reserve data. That has put many consumers on a path back to financial health.

    But an expiration of payroll tax cuts in early January and a spike in food Analysis: prices could wipe 0.8 percentage point off U.S. economic growth next year, according to some economists.

    The economy is now expected to expand 2 percent in 2013, down from 2.1 percent in 2012, a Reuters poll showed.

    Consumer groups are noting caution on the part of households when it comes to such things as taking on more debt, retirement savings and gasoline prices.

    All part of the Obama Foward plan-Forward your ass off a Fiscal Cliff......you wanted change America and you dam sure got it:clap2::clap2:
     
  2. iamwhatiseem
    Offline

    iamwhatiseem Gold Member

    Joined:
    Aug 19, 2010
    Messages:
    14,832
    Thanks Received:
    3,114
    Trophy Points:
    280
    Location:
    Virginia
    Ratings:
    +6,127
    Our employee portion of health insurance is going up by about right at $80 per month for 2013.
    This is going to be the norm for many, many, many companies.
    So yes, most people will pay more for health insurance next year. One reason why it is jumping that much is because the private sector is going to make up for the public sector who will not experience much of a rise, if any at all.
     
  3. Nova78
    Offline

    Nova78 Silver Member

    Joined:
    Dec 19, 2011
    Messages:
    1,915
    Thanks Received:
    254
    Trophy Points:
    98
    Location:
    Colorado
    Ratings:
    +267
    Yea,2013 is expected to be one bitch of a year, if obama gets another 4 expect massive lay-offs and inflation to record highs.....your local governments will come after your wallets on every front,from fees,taxes,the fucks wll come from every angle to steal your money...:clap2::clap2::clap2:
     
  4. jillian
    Offline

    jillian Princess Supporting Member

    Joined:
    Apr 4, 2006
    Messages:
    69,557
    Thanks Received:
    13,012
    Trophy Points:
    2,220
    Location:
    The Other Side of Paradise
    Ratings:
    +22,434
    you mean you wish...

    *yawn*
     

Share This Page