US economy at risk of wobble as lower-income consumers get squeezed

WASHINGTON — The U.S. consumer’s durability as a prop for the economy may be tested in coming weeks as family budgets, particularly among the less affluent, are stressed by rising healthcare costs, the potential loss of federal food benefits, and a wobbly job market outlook that is already taking a toll on earnings.

November is typically the start of a buoyant shopping and travel season, with the Thanksgiving holiday at the end of the month and Christmas following in late December. This year it also coincides with the possible loss of food benefits for many families amid an ongoing U.S. government shutdown, and rising healthcare costs for others if federal subsidies are cut at the start of the year for insurance policies offered under the Affordable Care Act, also known as Obamacare.

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