Economy

Today’s economy increasingly resembles a K-shaped recovery: those at the top continue to build wealth while many working families struggle just to stay afloat. That is not the promise America was built on. Not long ago, an average family could reasonably expect to buy a home, afford a car, and raise children on one income. For many people today, that path feels out of reach. Housing, healthcare, education, and everyday necessities have risen far faster than wages, leaving families working multiple jobs just to break even. If we want to restore the American Dream, we must pursue policies that lower the cost of living, expand access to affordable housing, and ensure that hard work once again provides a real path to stability and upward mobility.

In Q4/2025, non-housing debt climbed to $5.17 trillion, with a "T". Credit card balances rose by $44 billion from the previous quarter and totaled $ 1.28T. This is unstable.

Here's what I would change:

First, increase housing supply where people actually live and work.  Cut the red tape that slows down building. Incentivize local communities to approve more housing, faster. If supply stays tight, prices will stay high, no matter what else we do.

Second, attack the biggest cost drivers directly. That means going after the real reasons healthcare and education are so expensive, not just shifting costs around. More transparency, more competition, and fewer layers driving up prices.

Third, reward work, not debt. Right now, too many people are relying on credit cards just to get by. We should be making it easier to save, easier to build wealth, and harder for the system to trap people in high-interest debt cycles.

Fourth, focus on wage growth through productivity, not just promises. Invest in skills, trades, and industries where people can earn more without needing a four-year degree and a lifetime of loans.

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https://www.newyorkfed.org/microeconomics/hhdc

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