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Economist: 'We're going off the household cliff'

The economy is moving in the wrong direction, and the household sector is about to go off the cliff, said William Spriggs, chief economist to the AFL-CIO and professor in the department of economics at Howard University in Washington, D.C.

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Carole Masson 7:41pm January 7, 2013

Thank God, someone sees that when people cannot consume there are no jobs and that this will have an impact way down the road. It has even gotten to the point of when I do need to replace an item, there is so few people producing that it is hard to even spend what little money I have as there are no choices. No one is carrying inventory, what you see is what you get or you have to order online. Sad.. I hope the household cliff gets reversed.

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