LOS ANGELES (CBS) — The economic recovery may lose even more steam in the coming months as Californians continue to trim household budgets by cutting spending across the board, according to a new poll.
A joint U.S.C./L.A. Times poll shows families are giving up on home improvement projects and dining out in order to bolster their finances.
KNX 1070’s Vytas Safronikas reports the cutbacks have affected over 1 in 3 households across the state.
An estimated 52 percent of in-state consumers are skipping concerts and other entertainment expenses just to be able to pay their mortgage.
“Health care’s too high, nobody gets raises,” said one man. “The money is just not out there.”
73 percent of respondents say the economy is not improving, compared to 67 percent back in April.
Less than one-fifth also reported losing their job over the last year, while one-quarter suffered cuts in wages or work hours.