The economic downturn is starting to impact people across the country. A recent AARP survey shows that people are urgently borrowing money—from friends, family and charities—to cover everyday living expenses. If consumer spending is about to collapse, the economy is about to get much worse.

In a telephone survey of more than 1,000 adults age 45 or older, more than one in four said they were having trouble paying their mortgage or rent. And as a result of tougher financial conditions, one third of respondents said they had stopped saving money for retirement, and others said they had dipped into retirement savings accounts to meet expenditures. Cutting back on medication usage, doctor visits, and eating out were additional popular reactions.

The poll also found that nearly 40 percent of respondents had helped at least one child to pay bills, while 33 percent of retirees said they had helped children pay expenses.

However, in a sign that the economy may not yet have bottomed out, only a few of those surveyed had made any radical changes such as selling a house or taking on a second job to get their finances in order.

If so many middle-aged people are feeling the pinch, the worst news for the economy is still ahead. Demographically speaking, those in the 45-to-54-year-old age bracket contribute the most to the national economy. These are typically the years of peak income and peak expenses—which means lots of spending and economic activity. But if this demographic is having to cut back, older and younger demographic categories are probably cutting back too.

Further evidence of consumers under stress is the record numbers of people selling second-hand items at pawn shops and online garage sales.

Seventy percent of the U.S. economy (as measured by gdp) is consumer spending, and 45-to-54-year-olds drive that spending. If consumer spending goes under, so will the economy. America could be swimming on the edge of an economic drop-off. Prepare now to reduce your standard of living.