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Many Americans plan to spend less on “fun” purchases this year, survey says

By Home - CBSNews.com May 21, 2025 | 11:41 AM

More than half of Americans are planning to spend less money on travel, entertainment and dining purchases this year, according to a Bankrate survey. Ted Rossman, a senior industry analyst at Bankrate, joins CBS Morning News to break down what it all means.

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BREAKING THE BUDGET IMPASSE

What should be done to break the impasse in approving Pennsylvania’s budget?

Increase income taxes to pay for more spending.
Draw down the state's rainy day funds to pay for more spending.
Tax the so-called "skill games" machines to pay for more spending.
Legalize recreational marijuana to pay for more spending.
We don't need more spending, we need less! No new taxes!
We do need to increase spending on some programs, but there's plenty of wasteful spending we should cut. No new taxes!
Voting Ends: Oct 7, 2025 | 12:00 PM