Labor Department data released last week paints a full picture of how much Americans earned and what they spent their money on in 2013. Compared to the year before, Americans earned and spent less in general, but spent more on health care and housing. What about 20 years ago?
In 1993 on average Americans spent a greater share of our total expenditures on food, entertainment and reading than we did in 2013. We spent less of our total expenditures on health care, housing and property taxes than we do now.