Instapundit » Blog Archive » TAPPED OUT: Two-thirds of Americans are cutting back on restaurants and movies, 61% are driving less…

July 19, 2022

TAPPED OUT: Two-thirds of Americans are cutting back on restaurants and movies, 61% are driving less, four in 10 say they are spending less on restaurants and a third are using more credit cards as record 40-year high inflation hits home.

Good news: Decreased demand means less inflationary pressure.

Bad news: Increased risk of recession (if we aren’t already in one).

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