Looming Economic Crisis: 75% of Americans Cutting Back On Spending, Steep Spending Cuts Coming, Unfunded Federal Pension Liabilities Head Skyward, Fed Risks Losing Control Amid Budget Deficits

Sunday, February 24, 2013
By Paul Martin

February 23rd, 2013

75% of Americans cutting back on spending, thanks to payroll tax hike

SPRINGFIELD, Mass. (WWLP) – The payroll tax hike that took effect as a result of the fiscal cliff is taking a toll on many Americans’ household budgets.

That change in federal tax law means people are taking home smaller paychecks, and that’s forcing nearly 75% of Americans to cut back on spending, according to theNational Retail

Read more at http://investmentwatchblog.com/looming-economic-crisis-75-of-americans-cutting-back-on-spending-steep-spending-cuts-coming-unfunded-federal-pension-liabilities-head-skyward-fed-risks-losing-control-amid-budget-deficits/#4BfxjGppxMucz7vE.99

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