Top 20% of U.S. Households Account for Majority of Consumer Spending

The assessment is based on the convergence of evidence from the most authoritative and relevant sources provided. The primary source, direct data from the U.S. Bureau of Labor Statistics (BLS) hosted by FRED, provides the definitive figures on consumer expenditures broken down by income deciles. By aggregating the top two deciles (which constitute the top 20% quintile), one can directly verify the statement. A second, highly authoritative source, a blog post by Jared Bernstein, Chair of the White House Council of Economic Advisers, directly corroborates the claim by stating that the top quintile of households accounts for "half of all consumer expenditure." This figure (50%) is substantively identical to the claim of "more than 50%," with minor variations easily explained by different data years or rounding. The academic article analyzing unequal consumption further supports the underlying premise of the statement. The other sources were correctly identified as irrelevant due to their focus on historical data, non-US geographies, government spending, or being low-authority social media posts. There is no conflicting evidence from any credible source. The combination of direct primary data and expert corroboration provides high confidence that the statement is true.