Comment on Almost half of US households exhaust their salaries

By JOSH BOAK, AP Economics Writer, Seattle Post-Intelligencer: Business
Thu, 01/29/2015 - 10:57am

Almost half of US households exhaust their salaries

Nearly half of U.S. households — 47 percent — say they spend all of their income, go into debt or dip into savings to meet their annual expenses, according to an analysis of Fed survey data released Thursday by the Pew Charitable Trusts. According to those figures, the U.S. economy has roared back to life in recent months after muddling its way out of the Great Recession over the past seven years. Gross domestic product surged at an annual pace of 4.8 percent in second and third quarters of 2014, with growth projected to be above 3 percent in the fourth quarter in a government report being released Friday. Yet that same Fed statement indicated that the central bank would be patient in raising historically low interest rates that are designed to stimulate growth, a nod to the dire situation confronting many families. A separate economic scorecard released Thursday reported that 55.6 percent of U.S.

 

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