ECONOMY & MAIN STREET • THE MIDDLE-CLASS SQUEEZE
Americans are taking home more money than they ever have. Disposable income hit $23.5 trillion last quarter — a record. And out of every dollar that lands in your bank account, you’re holding onto four cents. Your parents held onto eight. Your grandparents held onto ten. The savings rate hasn’t averaged this low for a sustained stretch since the run-up to the 2008 crash. Meanwhile household debt just hit an all-time high of $18.8 trillion. The wallet keeps getting fuller and emptier at the same time.
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Your grandparents kept a dime out of every dollar… you’re keeping four cents.
