Millions of Americans are grappling with years of declining economic wellbeing and affordability needs a rethink

Public debate often treats economic disruptions as short-lived problems—sharp swings in prices, employment, or growth that settle once the broader economy finds its footing again. Early November’s election results suggest voters may see things somewhat differently. Candidates who focused squarely on affordability did well because households may be responding, at least in part, to something far more persistent: years of declining economic well-being that do not roll back once the headlines move on.