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You don't need a PhD to feel the squeeze, says Heather Long, chief economist at Navy Federal. Wage growth at its lowest in nearly five years, inflation is picking up again – likely close to 4% – and the jobs market is on "life support." American households are already tightening their belts. Struggling families turn to personal loans and credit cards to get by. The outlook? Bleak. #GoodPoint

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Economist: Americans are tightening their belts and the outlook is bleak