Democrats Assail Bessent on 'Privatizing' Social Security Remark

Published on July 31, 2025

The Treasury secretary is under fire for discussing "Trump accounts" as being a "backdoor for privatizing Social Security."

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Real Disposable Income Per Capita Down 0.1% in June

July 31, 2025
With the release of June's report on personal incomes and outlays, we can now take a closer look at "real" disposable personal income per capita. To two decimal places, disposable income per capita was up 0.22% month-over-month. When adjusted for inflation, real disposable income per capita was down 0.06%.

The Big Four Recession Indicators: Real Personal Income Down 0.2% in June

July 31, 2025
Personal income (excluding transfer receipts) rose 0.1% in June and was up 3.9% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was down 0.2% month-over-month and up 1.3% year-over-year.