U.S. Consumer Spending Climbs as Taxes Hurt Incomes

March 1 (Bloomberg) -- U.S. household purchases, which account for about 70 percent of the economy, climbed 0.2 percent in January after a 0.1 percent gain the prior month, a Commerce Department report showed today in Washington. Incomes slumped 3.6 percent, sending the saving rate down to the lowest level since November 2007. Betty Liu and Michael McKee report on Bloomberg Television's "In the Loop." (Source: Bloomberg)