Disposable Income Suffers Biggest Drop in 50 Years

Daniel Greenfield, a Shillman Journalism Fellow at the Freedom Center, is a New York writer focusing on radical Islam. He is completing a book on the international challenges America faces in the 21st century.


Just keep saying to yourself over and over again, “It’s a recovery, it’s a recovery, it’s a recovery.” Then click your heels 3 times and you’ll still be in the Land of Hope and Change, where there’s no hope for change until 2016.

Incomes slumped 3.6 percent, sending the saving rate down to the lowest level since November 2007.

Disposable income, or the money left over after taxes, dropped 4 percent after adjusting for inflation, the biggest plunge since monthly records began in 1959. The drop also reflected the lapse of the payroll tax holiday. Excluding the effect of the tax and other special factors such as the timing of bonuses and dividends, disposable personal income would have increased 0.3 percent in January, the same as in December, the report said.

But luckily made sure that people who actually work for a living pay their fair share over to Obama voters who protest for a living.

But who needs income anyway? It’s not like economic productivity matters. Just print up some more bonds, sell them to China and spend more money. Anyone can do it. When the credit ratings agencies complain, sue them. That will buy you another year or two.

And then when it all comes crashing down, just keep clicking your heels. It’s bound to pay off.

  • Ar'nun

    I am sure Obama will blame Squestration and the Republicans for only passing two bills for Harry Reid to table.

  • zippitydooda

    Will someone in the legislature get on with the impeachment already ( for not faithfully preserving, protecting , defending or upholding the constitution and laws of the US) before this mess goes too far? Hey, aren't we headed for a rev-ho-loo-shun anyway, does it really matter what sparks the fire at this point? What do you all think ?

    • pagegl

      I beginning to wonder if anyone in DC understands why they took an oath of office. They seem to regard it as some trivial formality they have to endure so they can get down to the business of being in power.

    • Mary Sue

      Impeachment is unlikely to happen. Even if Obama does The Worst Thing Ever™.

      I can only see it happening if Republicans with a freaking SPINE get elected in droves in 2014 in the house and senate enough to take control of it.

  • JacksonPearson

    No problem folks. There;'s no need for an income as long as Obama makes everything free! /Sarc