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Politics : Ask Michael Burke

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To: Joan Osland Graffius who wrote (64210)	7/8/1999 4:28:00 PM
From: Freedom Fighter	Read Replies (3) of 132070

Joan, I haven't been able to find that data either. I think you are making an interesting point though. I do have one insight to offer. The Fed used to calculate consumer interest payments as a percentage of disposable personal income. Last time I saw that number, it was very close to an all time high. Considering that borrowing costs have been falling for about 15+ years, I think it is safe to say that people are carrying a very high load of interest bearing credit compared to the past. I suspect that this number does not include Mike's (HO HO HO) favorite item of auto leasing or home equity loans. The other thing to consider is "when" they capture the data for their statistics. ex. If I run up my credit cards during the month for gas and groceries (etc...) and I pay it back as soon as I get the bill, when did they capture that data, before I paid or after I paid? (I just noticed BP made the same point.) Wayne

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