Americans Splurge on Fun Despite Economic Gloom
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Despite a strong economy, Americans are pessimistic about economic conditions according to polls.
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Yet consumer spending remains high - people are spending big on entertainment, dining out, and vacations.
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Americans are financing this spending by dipping into 401(k)s and racking up credit card debt.
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Experts cite high inflation as a top economic concern, even as inflation slows.
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Housing affordability is a major source of pessimism, with prices and mortgage rates squeezing budgets.