Study says Americans have never had it so good

Gas prices might be up. The stock market might be down. Job security might seem an illusion and there’s not an iPod in every pocket. But according to the government, American families have never earned more income, spent less on necessities or enjoyed a higher standard of living than they do right now.

That information comes from a new longitudinal study by the U.S. Bureau of Labor Statistics, which, for the first time, examines a century instead of just a year in its long-standing survey of consumer expenditure. The report, “100 Years of U.S. Consumer Spending: Data for the Nation, New York City, and Boston,” paints a purse-strings portrait of American society from 1901 to 2002-2003 by tracing the impact of significant events on consumer spending patterns.

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