There are legitimate reasons to worry about a recession. Inflation is at a 40-year high and Americans are paying record-high prices for gasoline. For just about everyone, the basic cost of living has skyrocketed.
According to a recent story in The Denver Post, the typical Colorado household has spent $4,467 more per year since 2020 because of inflation. The story notes that, although labor shortages are helping push up wages, pay increases are covering less than two-thirds of the most recent price spikes. That is not a sustainable proposition for many workers.
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