Are people cutting back on spending, or are they just saying they’re cutting back on spending? It depends on who you are, according to new government figures. The Labor Department reports that the middle class has significantly reduced spending in this recession, with a year-by-year drop in spending over the last three years. And to a lesser degree, so have high income earners. Read all about what’s behind the stats.
Editor’s note: This segment is a repeat from October 26, 2010. Please see the original show note above for the full transcript.