Summary
Rising gasoline prices are gobbling up much of the extra cash consumers are getting this year from a Social Security tax cut.
Most households will get an additional $1,000 to $2,000 this year from the Social Security tax cut. When President Obama signed the measure into law in December, economists predicted it would fuel more spending and stronger economic growth.See the full content of this document
Extract
Rising Gas Prices Curb Consumer Spending
But with gasoline now averaging more than $4 per gallon in Southern California, it's left people with less money to buy appliances, computers, plane tickets and other things that can be postponed.
"It does impact consumer s...See the full content of this document
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