I've made zero bones about who has been responsible for the situation.
Well let's abandon the "who" and talk about the "why"
The "Why" is why wages have not kept pace with cost.
Why do you think they haven't? Could, maybe, busting the unions up and a pathetic minimum wage have anything to do with that? Healthcare costs, a/k/a the number one cause of bankruptcy in the US: possibly related? Record household debt.... could this maybe have anything to do with wages not pacing costs? Or, instead, everything to do with that?
Everything, of course. The economy is a thin veil, right now. And no, I'm not laying that at the feet of Trump. The entire machine is weighted to favor the "haves" (as capitalism is, like rich man's poker) and thus to favor capital over labor. For decades, we have had stagnant wages and rising prices. And with tariffs, we face the real risk of
Stagflation. So much of the consumer spending in our economy is "deferred", in the form of interest-bearing loans and credit cards. And that is only trending in one direction.
It appears we have leaned too far into prioritizing capital over labor. We have done this through fiscal and monetary policy and via tax code.