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... The top 10 percent of U.S. earners spent $20.3 trillion through the first half of 2025 " nearly matching the $22.5 trillion shelled out by everyone else, according to the Royal Bank of Canada. That splurge has been primed by a buoyant stock market, elevated real estate prices and solid wage gains for the wealthy.

Bank of America says its top account holders saw take-home pay climb 4 percent over the last year, while income growth for poorer households grew just 1.4 percent.

That spending power has kept Trump's economy humming. The Commerce Department on Tuesday reported that the U.S. grew at an eye-popping rate of 4.3 percent during the third quarter, thanks to a surge in personal consumption, which the president labeled as a sign the "Trump Economic Golden Age is FULL steam ahead."

But the robust numbers mask the extent to which the wealthy are driving growth. And while business leaders from Manhattan to South Florida are bullish on the outlook -- "It's the Roaring '20s here in Palm Beach County," said Douglas Evans, the president of the Palm Beach Chamber of Commerce -- that view is not shared by most voters.

In survey after survey, a majority of Americans say they're straining under the pressure of rising living expenses and a softening job market.

The Federal Reserve Bank of Boston says low-income consumers have "substantially" higher levels of credit card debt than they did before the pandemic. ...