(NEW YORK) — Because of limited job growth in America, consumers have cut back in spending reports Bloomberg.
In the second quarter, state and local governments have also slashed budgets. With looming U.S. tax changes and the European debt crisis in effect, the American economy is in a weary state.
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Stephan Rockefeller, EastIdahoNews.com
Ivana Kottasova, CNN
Jill Disis, CNN