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| New to the newsletter? Subscribe to The Daily Money to get the best consumer and financial news from USA TODAY delivered to your inbox every weekday morning. And give our news-inspired Spotify playlist a listen. It features every song quoted here. |
| Happy Monday, Daily Money readers. Jayme Deerwester back with you. |
The economic impact of overturning Roe v. Wade |
| For a middle-income, married couple, it will likely cost $233,610 to care for a child born in 2015 through their 17th birthday, according to the U.S. Department of Agriculture. |
| For millions, overturning Roe v. Wade could be just the beginning of a lifetime of economic harm. USA TODAY's Charisse Jones examines the potential financial impact. |
| One source she reviewed, a landmark survey looking at women's experiences with abortion and unwanted pregnancy, found that women who were unable to get an abortion were more likely to have more debt and to suffer crippling financial events like eviction or bankruptcy. |
| Conversely, the ability to access a legal abortion in the wake of Roe increased women's likelihood of completing college by almost 20% and their getting a professional job by almost 40%, according to an amicus brief submitted by more than 150 economists in the Mississippi abortion case that has opened the door to the possible overturning of Roe v. Wade. |
| "The ability to decide whether and when to be pregnant and parent is a key part of determining your life's path, whether and how you pursue personal and professional goals and (whether you can) safeguard your equality,'' says Heather Shumaker, director of state abortion access for the National Women's Law Center. |
📰 More stories you shouldn't miss 📰 |
| BABY FORMULA SHORTAGE WORSENS: CVS, Target, Walgreens ration sales. |
| McDONALD'S IN RETROGRADE: Find out how to get a free McChicken or McDouble. |
| NURSES WEEK DEALS: Your guide to freebies and discounts. |
| GAS PRICES: Does driving your car in eco mode actually save you money? |
| EV CHARGING STRATEGY: Here's why you should only charge your car to 80%. |
Slower consumer spending and layoffs may come sooner than you think |
| Consumers have enjoyed the upper hand in the last year and a half, with a fistful of money, a pick of jobs, and great bargaining power. But those good times are about to end, some analysts warn. |
| "Consumers are dipping into the savings amassed during the pandemic to keep spending afloat in the face of blistering inflation," said Diane Swonk, chief economist at Grant Thornton. This is because wage increases haven't kept pace with inflation. Average hourly wages rose 5.6% over the last 12 months in March, but consumer inflation jumped 8.5%. |
| Meanwhile, workers, who have taken advantage of the labor shortage to hop from one high-paying job after another may find themselves without a chair when the music stops. |
| "We have employees making "demands" of management regarding even coming back to the office," said Matthew Matigian, chief executive at Blue World Asset Managers. So this shock "is what I am predicting will yield the re-set on people's current expectation that higher-paying jobs will always be easy to find." |
🎧 Mood music 🎧 |
| Spring may be beautiful but it comes with some real downsides, from minor things like allergies to dangerous weather events like tornadoes and floods. We're dealing with the latter in these parts so I'm going to quote an old Peter Gabriel track. |
| "When the flood calls, you have no home, you have no walls. In the thunder crash, you're a thousand minds, within a flash." |
| LISTEN WHILE YOU WORK: You can hear just about every song quoted in the newsletter on the Daily Money Mood Music playlist on Spotify. |
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