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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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To: llevrok

I used to feed 5 people on what I can feed 2 people today.


41 posted on 06/27/2024 2:46:26 PM PDT by Texas resident (Biden=Obama=Jarrett=Soros)
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To: TonyinLA

I have a friend that provides business insurance for small businesses. A LOT of his customers are opting out of business insurance. Think that through.


42 posted on 06/27/2024 2:48:01 PM PDT by Texas resident (Biden=Obama=Jarrett=Soros)
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To: Obadiah

And, every buffoon who voted for Jim Crow Joe deserves this.


43 posted on 06/27/2024 2:52:51 PM PDT by alstewartfan (Child slavery, rape and drug OD's mean nothing to Roberts and Barrett. )
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To: glorgau
I’ve hedonically adjusted my grocery shopping to nothing but cat food - the dry stuff.
In case you feel the need to splurge ... Easy to prepare.

;-)


44 posted on 06/27/2024 2:55:56 PM PDT by Tunehead54 (Nothing funny here ;-)
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To: Izzy Dunne

Massaged “statistics” make their proclamations silly. Eliminating consideration of energy pricing, housing interest, and normal food purchases and still having a low 3% inflation rates tells you things are still pretty hairy in the citizen world of limited budgets.


45 posted on 06/27/2024 2:58:32 PM PDT by Sgt_Schultze (When your business model depends on slave labor, you're always going to need more slaves.)
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To: SisterK

“Folks are taking their calculators to the grocery store”

Seriously, you’ve seen people take calculators to a store, not just use the app on their phone?


46 posted on 06/27/2024 3:09:50 PM PDT by steve86 (Numquam accusatus, numquam ad curiam ibit, numquam ad carcerem™)
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To: TonyinLA

This is the key time in the battle. Phony employment, spending and consumer sentiment reports will ALL be super positive for the wildly exciting Biden economic boom to carry him on its shoulders to victory.🤩🤩🤩🤩

Then “several statistics were adjusted dramatically downward in mid November. Computer glitches were blamed.”😮


47 posted on 06/27/2024 3:15:47 PM PDT by frank ballenger (There's a battle outside and it's raging. It'll soon shake your windows and rattle your walls.)
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To: Tunehead54

Can’t remember which crime show but someone ate cat or dog food and the bones couldn’t be dissolved in human digestive system-—just animal ones-—so the person died.


48 posted on 06/27/2024 3:17:35 PM PDT by frank ballenger (There's a battle outside and it's raging. It'll soon shake your windows and rattle your walls.)
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To: lurk

HOW MUCH information about the FEDERAL RESERVE losing $176 BILLION since 9-28-2022??? UP to 6-19-2024.

NEVER BEFORE IN HISTORY ANY LOSSES.


49 posted on 06/27/2024 3:21:41 PM PDT by ridesthemiles (not giving up on TRUMP---EVER)
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To: TonyinLA

We have a big garden and we buy our meats locally. The meat has always been expensive but it’s worth it. But on the rare occasions when we eat out the portions are smaller and about 1/3 more expensive. We’re heading out on a one week trip and so two things, the expense and my lactose intolerance. Stressed out.


50 posted on 06/27/2024 3:22:13 PM PDT by Mercat
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To: antidemoncrat

THE ONLY SCORCHING PACE SET ON MEMORIAL DAY WEEKEND WAS THE INDY 500.

Speed of pole sitter car==I second to go about 345’.

My current property is 389 wide. 630 long.


51 posted on 06/27/2024 3:23:40 PM PDT by ridesthemiles (not giving up on TRUMP---EVER)
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To: frank ballenger

Also, IF Trump manages to win the election the dimrat media will suddenly start pointing out economic reality and blame it all on Trump. And it will be armagedon.


52 posted on 06/27/2024 3:24:07 PM PDT by Texas resident (Biden=Obama=Jarrett=Soros)
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To: cableguymn

You can, but if you’re smart and have a choice, you don’t.


53 posted on 06/27/2024 3:24:44 PM PDT by mewzilla (Never give up; never surrender!)
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To: cableguymn

What? Have you heard of credit cards? How is federal government spending Trillions more than tax revenues?


54 posted on 06/27/2024 3:33:32 PM PDT by Bobbyvotes (I will be voting for Trump/whoever he picks VP in November. If he loses in 2024, country is toast.)
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To: Bobbyvotes

That only works when you control the credit limit

Common folks have reached the limit or had their limit lowered to the balance or less.


55 posted on 06/27/2024 3:47:34 PM PDT by cableguymn
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To: TonyinLA

Correction: Newsweek is finally reporting something that had been going on for some time.


56 posted on 06/27/2024 3:50:49 PM PDT by jdsteel (PA voters elected a stroke victim and a dead guy. Not a joke. )
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To: llevrok

Hair cuts? I remember them...


57 posted on 06/27/2024 3:54:18 PM PDT by who knows what evil? (Hospitals are the most dangerous place on Earth! Dr. David Williams)
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To: TonyinLA

Even I have cut back spending a ton, because of the Biden economy, and I am in the top 2% of earners.


58 posted on 06/27/2024 3:58:38 PM PDT by TexasFreeper2009
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To: Obadiah

Have been in a recession but it’s turning ugly.


59 posted on 06/27/2024 4:03:47 PM PDT by wgmalabama (Censored!)
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To: steve86

okay
calculators on their phones
but I can tell when they are grabbing “digital coupons” or when they are using the calculator

also, I am seeing more husbands and wives at the grocery store (that high finance should be a family decision) having serious discussions about needs vs. wants


60 posted on 06/27/2024 4:23:49 PM PDT by SisterK (it's controlled demolition)
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