Supporters of this analysis emphasize millions of consumers struggling to pay off their debts, whether credit card, student, auto, or other loans. Years of rising borrowing costs and persistent inflation have led to an affordability crisis in the United States. However, some indicators of consumer distress may suggest the economic picture isn't as bleak as believed. If the labor market continues to deteriorate, incomes will fall, delinquencies will accelerate, and growth will slow. Today, there is much talk about the economy: the rich get richer, while the rest struggle to make ends meet.
