Top 10% Drive 50% of U.S. Spending—Economists Warn Concentration Threatens Financial Stability
The top 10% of U.S. earners now account for nearly 50% of all consumer spending, while the bottom 80% (households earning under $175,000) are barely keeping pace with inflation. With 22 states plus Washington D.C. already in recession, economists warn that any pullback by high-income spenders could trigger systemic economic contraction and banking sector stress.
ViaNews Editorial Team (Finance)•