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Americans are beginning to feel the pinch from Washington’s decision to embrace austerity measures aimed at bringing down the nation’s budget deficit.
Paychecks across the country have shrunk over the last week due to higher federal tax rates, and workers are already cutting back on spending, which will drag on the economy this year.

(Photo credit: Mike Groll/ AP)

Americans are beginning to feel the pinch from Washington’s decision to embrace austerity measures aimed at bringing down the nation’s budget deficit.

Paychecks across the country have shrunk over the last week due to higher federal tax rates, and workers are already cutting back on spending, which will drag on the economy this year.

(Photo credit: Mike Groll/ AP)

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  1. will-bishop reblogged this from msnbc and added:
    More great news about our lives.
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    Definitely had a good breakdown about that today…
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