Austerity in America is the norm

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The Big recession may be over two years ago, but the economic carnage is still there. Americans are growing more frugal and austerity minded in many ways not seen before. Incomes have been cut in half and expenses have increased or sometimes doubled, squeezing the middle class into poverty and the poor have literally slid into the drain. Having a constant battle, juggling bills, trying to pay mortgages, and meet expenses is a burden on millions of households and breadwinners. As a result consumers have shifted their spending habits and adapted to more frugal means to stretch the dollar and conserve dwindling resources.

With unemployment rate stuck at 9.1 percent and jobs prospects very few, a new generation of Americans are postponing their life’s goals. They are living in the parents homes, not getting married and and not buying major items and homes that signal stepping into adulthood. Quite frankly the American dream is shattered for many .

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