Affordability in America: Why Prices Feel Higher and What’s Driving the Cost of Living

Affordability is quickly becoming one of the most used economic terms of the year. People feel it every time they buy groceries, fill up their gas tank, or pay rent. But what does affordability actually mean? According to Grover Norquist, president of Americans for Tax Reform, it comes down to a simple question: is your after-tax income rising faster than the cost of everyday goods?