Holtz-Eakin on Low Polls on the Economy: People Are Spending but Are Not Able to Maintain Their ‘Savings Rate’

RUSH EXCERPT:
HOLTZ-EAKIN: "You can square the circle by look at the personal savings rate which it continues to drop in every monthly survey. So people are spending the money they are not able to maintain their saving rate at the same time the feeling is pinch they don’t like it. They don’t real wages are not going up or single wage increases roughly at the rate of inflation. So the outlook is flat and they’re running down the savings and I think they have a reason to not be that happy."