CNN — It’s becoming tougher and tougher for Americans to carry on with their spending spree. Years of elevated inflation and the highest interest rates in almost a quarter century are wearing out the US consumer. Savings accumulated during the Covid-19 pandemic are drying up, borrowers continue to rack up debt and delinquencies are marching higher. Retailers say shoppers are under immense pressure, especially those with low incomes. Americans power economic growth with their spending, and they’re being buffeted from every direction. US consumers unleashed a tsunami of demand when the econo
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