Lewis W. Diuguid

Happy economic news

Updated: 2013-07-09T16:17:51Z

Consumers in May increased their borrowing, which is a good sign that their confidence in the economy and their own job stability is returning.

Americans’ borrowing picked up by $19.6 billion in May compared with April, the Federal Reserve reports. That’s the biggest increase since May 2012 when it was $19.9 billion, The Associated Press reports.

That’s coupled with sequestration in the federal government pulling down spending. In addition, the federal budget deficit for the current fiscal year dropped to $759 billion.

That’s down more than $200 billion predicted just three months ago. It’s caused by the improving economy as well as the sequestration spending cuts.

Happy days, indeed, appear to be just around the corner.

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