1-tank 失败，财政损失

The rich have stopped spending and that's tanked the economy.

2-keep a tight grip on 紧紧控制

3-counterpart 对应的人或事物

The wealthiest American households are keeping a tight grip on their purse strings even as their lower income counterparts are spending a lot more freely when they emerged from weeks of lockdown.

4-cripping 造成严重后果的

That's potentially crippling because consumer spending is a huge driver of economic activity.

5-discretionary income 可支配收入

The wealthy have a lot of discretionary income and before the pandemic, they were spending a significant chunk of that going to nice restaurants, the theater, or traveling and staying in nice hotels.

6-paycheck-to-paycheck 靠薪水度日

From the perspective of people who are not living paycheck-to-paycheck, the main concern here is really fighting the virus.