Rich Americans' pullback in spending is hurting the economic recovery

[spinbaby]

5. Exactly

Poor people are still buying food and necessities because they can’t cut back on that. It’s much easier to cut out a trip to Bali.

I’m fairly middle class and economically unaffected because I’m retired. My spending has gone down drastically, not because I’m cutting back, but simply because I’m not out doing things anymore. I didn’t take that road trip to see my sister, I didn’t buy new clothes this spring because there’s nowhere to wear them, I’m not going out to eat with my friends, etc.