Ric Metcalfe, leader of the Labour-led council, said the council had "little choice" and must save money because of a drop in government funding.

BBC: City Hall

Allowing people to drop sports channels, in particular, could help them save money because sports channels are among the priciest.

WSJ: Imagining a Post-Bundle World for Cable TV

Deflation is actually a good thing, because in a deflation prices drop and money becomes more valuable, so deflation encourages people to save money.

FORBES: Fear Not Deflation

But the June drop suggests that absent government stimulus money, the American consumer really can't save much more and that the rise in savings rates might be less a sign of a new thriftiness than it is a short-term tendency to hoard anything extra that comes in.

FORBES: Magazine Article