What do you think, do Americans budget more, less, or the same as they did back in 1948 on food and health care? It was a totally different time back then but Americans budget about the same as they did. “During the Depression and some post-war years, American families devoted nearly one-quarter of all their consumption spending to food (a broad category that includes food at home, food purchased away from home and alcohol). But starting in 1948, that share plummeted by more than two-thirds to its current level of 7.7 percent (although as Prof. Perry points out, it has been at that low level for roughly a decade).” To read the whole article, CLICK HERE.
