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Thursday, September 19, 2013

The Poorest Households Buying Less Alcohol

A Kranz (wreath) of K├Âlsch beer.
The economy has been less than remarkable since 2008 in the wake of the housing crash and "great recession." Many families lost their homes and experience debt on a major scale. When times are hard many will turn to drugs and alcohol to cope with trials and tribulations. Since the economy has started rebounding those on the lowest economic tier are spending less on alcohol.

In fact, the poorest 20 percent of American households spent an average of $152 on alcohol last year, a new government survey finds.

In the past 15 years, the poorest households spent less on alcohol last year than any other year, according to The Wall Street Journal. The highest alcohol expenditure year was 2008.

A Labor Department Consumer Expenditure Survey was responsible for the new findings. Conversely, people who make the least amount of money are more likely to binge drink, having 5 or more drinks at a time, than any other economic group, according to the Centers for Disease Control and Prevention (CDC).

It is great that those making less are buying less alcohol, but, if they are binge drinking more than others it is still a concern worth noting.
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