Final answer:
The topic revolves around American consumer spending habits and inflation, using the Consumer Expenditure Survey by the U.S. Bureau of Labor Statistics data for references. It discusses how $1 had the same purchasing power in 2017 as 18 cents did in 1972, and provides a breakdown of average household spending in the fiscal year 2015.
Step-by-step explanation:
In 2017, Americans spent a record high of 9.1, but the provided text does not specify 9.1 of what. However, the context suggests the conversation is focused on consumption patterns of Americans and the general rise in the level of all prices, which is typically due to inflation. Previously, common goods were cheaper, and as an example, in the beginning of 2017, $1 had about the same purchasing power as 18 cents did in 1972 because of the amount of inflation that occurred over that period. The increasing complexity and technological advancement of products like cars also contribute to higher prices. The text refers to the Consumer Expenditure Survey by the U.S. Bureau of Labor Statistics, which indicates that, in 2015, the average U.S. household spent $48,109 on consumption, with roughly one-third on shelter and housing expenses and another third on food and vehicle expenses.
Government spending is another aspect touched upon, with total government expenditures, including all levels of government, reaching $6.2 trillion in 2015. This equates to $19,386 per person when calculated on a per capita basis. The fiscal year 2015 data provides insight into how government spending was divided across different categories, shown in a pie chart. These spending habits and government expenditure trends reveal not only the direct costs that consumers face but also the broader financial implications on the economy, which may be discussed in dinner table conversations about the changing costs of living over time.