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Thursday, ABC's Betsy Stark and CBS' Anthony Mason reported that Gross Domestic Product statistics indicate a growing economy. Now, the same two reporters grapple with contradictory data. CBS' Mason called them "the worst consumer spending numbers since last December." According to ABC's Stark, "the new numbers on consumer spending are a clear sign that Americans are hard-pressed to spend without a big government incentive." CNBC's economist Steve Liesman put the debate this way on NBC: is the recent GDP expansion "something that was fostered as sort of artificial from government spending? Or is the economy really sort of finding its own legs?"
CBS' Mason cited the results of a Consumer Reports survey that 65% of Americans plan to cut back during the holidays. ABC's Stark watched the response by the retail chains--Sears, K-mart, Best Buy, Toys'R'Us--"trying to outdo each other in an early battle for the holiday dollar."
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