Posted on 04/28/2017 7:32:29 AM PDT by SeekAndFind
What would the consumer spending impact be if 15 million illegal households didn’t file returns for their EIC for the first time in 10+ years? ~5K/family not available for spending?
44’s term ended on Jan 20 so not even a full month of the first quarter was under his admin.
It’s real news, alright, but so what. Warm weather happens. Tax refunds get delayed. Holiday spending and Black Friday come and go. Big deal.
There are many components to those figures. Things like government spending goes into GDP, even if the government had to borrow or create the money.
Likewise, consumer spending includes things like basic bills, which drag down discretionary spending, and affect borrowing...so in the short term, gross numbers may be precursors one way, or obscuring a large movement the other way.
There are a lot of good underlying trends right now, but it’ll be a couple of quarters before we can see the next steps.
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