“Americans are spending like never before,” boasted the Donald Trump White House in a press release on Wednesday. Consumer spending is no insignificant matter; it accounts for 70 percent of the American economy. When consumer spending is removed from the equation, the state of the American economy under Trump looks much weaker. As for the overall jobs picture, the August jobs report revealed the US economy added just 22,000 jobs total, far below expectations of 76,500. All told, the average American inhabits a completely different financial reality than the one represented by the top-line statistics.