Consumer spending growing at "torrid" rate.

And guess what? The growth is coming from the high-income people who won't be gouged by those tax increases that Democrats wanted to impose. 

Here is an explanation:

Inflation-adjusted growth of 2.4 percent in consumer spending during the summer quarter -- the highest annualized rate since before the recession in 2006. And so far in October and November, the first two months of the fall quarter, spending is growing at a torrid 4.2 percent annualized rate, IHS estimates.

Filed under: Economy

Tags: consumer spending, economy, politics

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