Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Promoted
When Paul Volcker was Chairman of the Federal Reserve, he made a statement. What did he mean?
Volcker said, while he was still chairman, "The standard of living of the average American has to decline". What did he
mean?
3 Answers
Relevance
- Anonymous1 decade agoFavorite Answer
Need more context or a link.
- Anonymous1 decade ago
He is talking about inflation in relation to the increase in government spending and consumerism.
- Anonymous1 decade ago
It means that we are spending more than we are earning or saving.
That not only applies to the individual, but the government as well.
Still have questions? Get your answers by asking now.