Bill Simon is worried about consumer spending. Once the CEO of Walmart's U.S. business, Simon currently sits on the board of directors for HanesBrands and Darden Restaurants, giving him high-level insights into grocery, retail, apparel, and dining.

In a recent interview with CNBC, he said U.S. consumers are reaching a breaking point for the first time in over a decade. And if he's right, popular companies, including Walt Disney (NYSE: DIS) and Chipotle Mexican Grill (NYSE: CMG), could be making a big mistake with their ongoing prices increases. Here's why.

All across the country, businesses are raising prices. And it may be too much.

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Source Fool.com