Monday, April 27, 2009

Taxpayers make hard decisions while Govts Splurge

Link
These recession-era reevaluations are all the more striking because the public's luxury-versus-necessity perceptual boundaries had been moving in the other direction for the previous decade. For example, the share of adults who consider a microwave a necessity was just 32% in 1996. By 2006, it had shot up to 68%. But it has now retreated to 47%. Similarly, just 52% of the public in the latest poll say a television set is a necessity -- down 12 percentage points from 2006 and the smallest share to call a TV a necessity since this question was first asked more than 35 years ago.