Unemployment rates hit a four-year high in July, says the federal government, peaking at 5.7 percent.
At the same time, consumer spending fell in June, the poorest showing since February.
You wonder sometimes if the Powers That Be recognize that there's a connection between these two statistics. Families that are out of work don't spend money. A shocker! But, hey, just keep sending those stimulus checks, Uncle Sam. Maybe we'll somehow be fooled into thinking that a one-time check for $600 is as good as having a steady job, and we'll spend, spend, spend.