At President Joe Biden’s recent celebrity-studded fundraiser in New York, former President Barack Obama spoke glowingly about Lunch Pail Joe’s deep empathy for the Little Guy. Obama rhetorically asked the room, 'At the end of the day, who do you think is actually going to look out for you? Who do you think is going to fight on your behalf? … This guy does. Yeah.' Obama’s right.
Bank of America reports that spending growth from lower and middle-income Americans has stalled. This is a change from last year when these cohorts were viewed by the giant bank as a 'point of strength.' The report cites a change in the jobs market as the possible culprit, writing that, 'some of the momentum at the lower-income end of the labor market may be slowing.
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