Peter Morici: For Working People, ‘Rent Takes Up Too Much of What They Earn’ and What’s Left Over Is Swallowed Up by Food Prices

RUSH EXCERPT:

MORICI: "Home prices continue to rise despite the fact that the economy is supposed to be slowing down. For working people people with ordinary circumstances rent takes up too much of what they earn and what is left over is swallowed up by food prices. There's not much room for luxuries. Consumer attitudes have improved but they came up from a level that’s lower than the Snakes Belly. People are not happy out there. Joe Biden’s pulling on the economy is terrible and he’s going to have to simply do better than tell them sing a good song in South Carolina to get through all this."