But the recent income gains seem to have made them more sanguine about the years ahead.

"What we've had for two years now is people borrowing no more than their income gains were."

The increase appeared to be based almost solely on income gains in the South.

In theory, they are supposed to return income, capital gains and tax benefits.

The income gain will result from both phases of the tax cut, he said.

Self-employed people also had large income gains in the period.

The result: an annual income gain for Austin of half a billion dollars.

Once the Reagan program was in place, economic growth generated income gains at all levels.

And those income gains are likely to continue in the 1990's, experts said, although probably at a slower pace.

And over the last several years, Colorado residents have had some of the biggest personal income gains in the nation.