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Americans Suddenly Cut Back Spending
Newsweek ^ | 6/27/2024 | Giuilia Carbonaro

Posted on 06/27/2024 1:00:30 PM PDT by TonyinLA

Americans across all age groups have dramatically cut back on spending between April and June, a recent study from TransUnion found, as many remain concerned about the higher cost of living despite declining inflation. ... 39 percent of all respondents said they had cut back on discretionary spending in the past three months. ... Among respondents who said they were concerned about inflation, the share went up to 58 percent.

Sixty-six percent of respondents said they were concerned about the rising price of gasoline; 40 percent were worried about takeout and meal delivery becoming more expensive; and 84 percent feared a rise in the cost of groceries.

(Excerpt) Read more at newsweek.com ...


TOPICS: Business/Economy; Editorial; Government; News/Current Events; Politics/Elections
KEYWORDS: biden; bidenflation; bidenomics; calmbeforethestorm; fakenews; fjb; inflation; lgb; newsweak; recession; spending
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More American liars / ingrates who refuse to accept the greatness of biden.

"declining inflation". No-one is buying it anymore.

1 posted on 06/27/2024 1:00:30 PM PDT by TonyinLA
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To: TonyinLA

Butter beef cars and housing.

Add taxes.

Add historic credit card debt.


2 posted on 06/27/2024 1:05:28 PM PDT by lurk (u)
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To: TonyinLA
despite declining inflation

I'm so frustrated by the continual spin they (news droids) put on this.

If your airplane is descending at 1000 feet per minute, and you manage to change that to 800 feet per minute, your rate of descent has declined.

But you're still headed toward the ground at an uncomfortable rate.

3 posted on 06/27/2024 1:06:09 PM PDT by Izzy Dunne (Hello, I'm a TAGLINE virus. Please help me spread by copying me into YOUR tag line.)
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To: TonyinLA

Can’t spend what you don’t have


4 posted on 06/27/2024 1:06:23 PM PDT by cableguymn
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To: Izzy Dunne

Perfect.

Pssst.... We’re in a recession.


5 posted on 06/27/2024 1:07:51 PM PDT by Obadiah
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To: TonyinLA

Is that abou the time new real estate assessments came out and interest rates went up? Increasing escrow and interest payments on mortgages? Yeah, no, spending didn’t get cut, the money went elsewhere.


6 posted on 06/27/2024 1:09:19 PM PDT by mikey_hates_everything
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To: TonyinLA

Suddenly? I’ve been seeing this for quite some time. A lot of people opting for cheaper food items at the grocery stores, and you can actually hear couples grumbling about this. A lot of our nicer sit-down restaurants are becoming less busy. It used to be 30-45 minute waits were not uncommon. Now, 15 minutes is usually the max, and that typically is because the restaurant is short-staffed.


7 posted on 06/27/2024 1:10:07 PM PDT by CatOwner (Don't expect anyone, even conservatives, to have your back when the SHTF in 2021 and beyond.)
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To: TonyinLA

And yet over Memorial Day: “Memorial Day weekend, the traditional launching pad of the summer travel season, is shaping up to set a scorching pace. The Federal Aviation Administration has forecast the holiday to be its busiest in 14 years.”

What to believe What to believe


8 posted on 06/27/2024 1:10:22 PM PDT by antidemoncrat
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To: Obadiah

I’ve hedonically adjusted my grocery shopping to nothing but cat food - the dry stuff.


9 posted on 06/27/2024 1:11:16 PM PDT by glorgau
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To: TonyinLA

I have been in the monument inscribing business since 1982. I have been operating my own business since 2004. Think of all the economic upheavals that have come and gone in all those years. I have NEVER seen a slowdown like what is happening now. Since the pipeline is three months on average the months mentioned in the article jibe with the timing I’ve seen. People literally are forgoing putting mom or dads name on the existing stone. This is something that really matters to people in terms of closure but they just aren’t spending the money. Average price depending on number of letters is between 325.00 and 1200.00


10 posted on 06/27/2024 1:12:16 PM PDT by TalBlack (I We have a Christian duty and a patriotic duty. God help us.)
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To: TonyinLA

Food...that’s about it.


11 posted on 06/27/2024 1:15:32 PM PDT by who knows what evil? (Hospitals are the most dangerous place on Earth! Dr. David Williams)
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To: TonyinLA

But don’t expect politicians to stop spending YOUR money like drunken Hunter.


12 posted on 06/27/2024 1:16:11 PM PDT by subterfuge (I'm a pure-blood!)
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To: CatOwner; TonyinLA

“Suddenly?”


AND, “unexpectedly!


13 posted on 06/27/2024 1:18:05 PM PDT by oldplayer
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To: TonyinLA

I just bought a new F-150 [100% ICE] last week [Monthly lease payments were fundamentally uneconomic in comparison :-(].

THAT should goose the Economy for a month.


14 posted on 06/27/2024 1:18:17 PM PDT by Paladin2
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To: TonyinLA

These idiots don’t get it.
Inflation may have slowed but
prices are still too high in relationship
to wages!
And the idiots keep electing these other idiots!
I say crash it all.
My home is a place to live not a place to
flip for a profit.


15 posted on 06/27/2024 1:20:41 PM PDT by rellic (rough)
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To: TonyinLA

Newsweek is a joke.


16 posted on 06/27/2024 1:22:49 PM PDT by Parley Baer
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To: Paladin2

My vehicle purchases will suffer a significant drop next month.

And for years going forward.

Too bad I am financially supporting EV production @ Ford....


17 posted on 06/27/2024 1:28:35 PM PDT by Paladin2
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To: TonyinLA
"Suddenly cut back"

I guess the press is so used to saying "died suddenly", they forgot to say "unexpectedly".

18 posted on 06/27/2024 1:44:18 PM PDT by fruser1
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To: TonyinLA

Suddenly?! Man, I’ve been cutting back more and more each year for at least a decade.


19 posted on 06/27/2024 1:55:48 PM PDT by al_c (Democrats: Party over Common Sense)
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To: TonyinLA

When I was working, I made a “six figure” salary for a number of years (14 years ago). We saved like crazy so we could have a financially stress free retirement.

Today, Mrs llevrok is clipping coupons. We’ve sold one of our 2 cars in order to reduce our gas and insurance costs. A spur of the moment stop for ice cream or a McDonalds burger is a thing of the past. My every 4 weeks hair cut is now every 5 weeks. Yesterday, I went to buy Bing cherries as I do every year around July 4th. They were $7.50/pound!! (They are grown in my state for pete’s sake!) I put them back on the shelf.

Yup. No inflation effect here Mr Biden.


20 posted on 06/27/2024 1:56:56 PM PDT by llevrok (“In a time of deceit telling, the truth is a revolutionary act.” ― George Orwell)
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