McDonald's is gearing up for a value war in the US, planning to launch a new $5 meal deal to lure back budget-conscious customers. President of McDonald's US, Joe Erlinger, is determined to win the battle for value. Competitors like Burger King and Wendy's have retaliated with their own deals, but McDonald's is confident in its size and marketing power. Despite concerns from franchisees about profit margins, the company believes the $5 promotion will attract customers across income levels. With stagnant disposable income and increasing debt, consumers are seeking affordable dining options. McDonald's hopes the $5 meal deal will dispel the perception of high prices. While the promotion may not provide an immediate solution, the company is committed to remaining competitive in the value segment. Competitors are preparing to fight back against the fast-food giant's latest move.