The cut in Social Security payroll taxes helped boost incomes last month, but personal spending...

|By:, SA News Editor

The cut in Social Security payroll taxes helped boost incomes last month, but personal spending fell anyway. Blame it on rising prices: “Higher food and gasoline prices are swallowing up a larger proportion of the household budgets and making consumers feel that they should save more and spend less,” IHS Global Insight's Chris Christopher writes.