Are We Headed Toward a Soft Economy?
As we reach the midpoint of February 2015, U.S. consumer spending has barely inched its way up. After a .3% drop in December, this news may suggest that the economy is not on the mend. According to the U.S. Department of Commerce, retail sales excluding building materials, food service, gasoline and automobiles were up 0.1 percent last month. As this article in the New York Times suggests, it’s shocking that consumers are not spending what they have been saving in gas costs.
This article may suggest that we as consumers should by wary of our economic future. In addition to a lull in spending, Americans are using their savings to pay off debts and to save for the future. While some may be able to pay down debt, millions continue to struggle with this all the while trying to avoid bankruptcy. Those wishing to avoid bankruptcy but are looking for debt relief should consider hiring a debt attorney to negotiate for large reductions in their unsecured debt. The option of debt settlement may be the best possible solution to your debt problem and help you save for the future.
Kevin Fallon McCarthy
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