Locals react to economy changes
Last Updated: 108 days ago
SAN DIEGO - While many San Diegans are appreciative of the positive changes to the U.S. economy, some are concerned about paying their bills with less money in their paychecks.
For San Diegan Michael Gift, heading to the ATM or walking out of a check-cashing business has become a little unsettling lately.
Gift said he has seen about $80 a week taken out of his paycheck because of the increase in Social Security taxes.
"I looked at my bank account and said, 'Wow,'" said Gift.
Overall, the numbers get worse when looking at economic growth. The economy dropped 0.1 percent from October to November of last year -- the first such drop since the recession ended.
The decrease was caused by one-time factors like government spending cuts.
Some San Diegans said they are feeling a pinch when paying for everyday necessities.
However, there are areas in the economy that are showing change in the right direction -- from the housing market, where home prices are up about 5.5 percent, and the 20 percent increase in 401(k) plans.
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