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Maybe the Administration can just change the definition of Recession? Or maybe change the goods that used to calculate inflation? Wait, what? They already did that?
“Those in their 20s and 30s are having the most difficulty paying their credit card bills. Those age groups typically have a mix of less earnings power and lower savings.” True – also true is too many of them do not seem to understand the difference between (even small) luxuries and necessities, thus an inability to curtail their spending on things that could be curtailed when things get tough… e.g., ONE Starbucks latte per day is roughly $1,800/year after tax. You’d have to earn $2,400 dollars at a 25% tax rate to cover just that one expense… Delivered meals – two added expenses: the first one for the takeout meal itself which is more expensive than a comparable home prepared meal, the second for the delivery charge + tip…
The phones always baffle me. Seeing someone in their 20’s, complaining about money, holding a $1,000+ brand new iphone.
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