Taco Bell to debut $2 combo meal

The price war at fast food chains will get kicked up another notch soon. USA Todayreports today that Taco Bell is on the verge of announcing plans to launch a $2 combo meal that include a taco or burrito, a medium soft drink, and a bag of Doritos chip.

The move comes as the restaurant industry continues to suffer from recessionary pangs. Unemployment and shrinking disposable income have made diners lose their appetites for outside food. A recent survey by Alix Partners show that diners are spending less on each meal and shopping for bargains and coupons before dropping cash at restaurants.

To survive, restaurants are being forced to get creative with their menus and pricing. Some are doling out value meals, others are offering limited-time menuspecials, and yet others are venturing into newer territories, like expanding into brunch offerings. But value is the chief mantra in the industry these days. Taco Bell's latest offering beats it all, even the dollar menu offered by Goliath McDonald's.