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Report: 2/3 of Americans Now Living Paycheck-to-Paycheck As Inflation Again Exceeds Estimates

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Unspeakable statistics show that almost two-thirds Americans have to survive paycheck-to-paycheck in Biden’s economy. The inflation rate continued its upward trend at 8.3% per month in April. That is more than experts predicted and still at 40 year highs.

The consumer price index, according to the Bureau of Labor Statistics accelerated 8.3% year-over-year in April, a slight dip from March’s 8.5% but still higher than the Dow Jones estimate of 8.1%.

The Core CPI was 6.2%, even when you remove food and energy prices.

And what’s worse, CNBC reports, “workers continued to lose ground” in the Biden economy as “real wages adjusted for inflation decreased 0.1% on the month.”

They also note that “over the past year, real earnings have dropped 2.6%.”

RELATED : The Biden economy shrank by 1.4% this year despite spending trillions

Americans living paycheck-to-paycheck

Americans living during the Biden Era have been subject to a constant tidal wave economic shock with high inflation rates and grocery prices as well as shortages of basic needs. The gas prices also have a devastating effect on their personal finances almost every day.

This latest inflation news is less than two weeks following reports that the U.S. economic took a severe hit during the first quarter 2022. The Gross Domestic Product (GDP), which fell at an astounding 1.4%, was far lower than what experts expected.

Their projections actually landed at an expected 1.1% Gain which was already described as having been a “subdued” prediction.

However, what do these numbers really mean to you and me?

LendingClub reports that 64% Americans were living paycheck-to–paycheck in March, according to LendingClub. There’s little doubt that this number is on the rise following inflation numbers from March and April.

And these difficult times aren’t simply affecting low-to-middle income earners.

“The surging cost of living has strained household finances nearly across the board,” CNBC writes.

RELATED: Report: America Experiencing ‘Unprecedented’ Stress Levels In Biden Era

Biden Blames Ultra MAGAs

President Biden, meanwhile, is taking no responsibility for soaring inflation and leaving Americans nervous about living paycheck-to-paycheck.

The White House messaging over the past few days has been to blame Republican Rick Scott – whose economic plan is backed by nobody in the GOP and who isn’t running for anything this election cycle – and what he calls the ‘Ultra MAGAs.’

The President is to blame in reality.

By comparison, a similar study on American budgets shows that in June of 2021, just 54% of Americans were living paycheck-to-paycheck.

American families are now paying an additional $536 each month due to inflation, and 55% say that Biden is making the economy worse.

Not only is the Biden economy hurting people financially, but it’s also affecting their mental health.

The American Psychological Association (APA) released a report called “Stress in America” in March that gives a sobering view of how people are experiencing “alarming” and “unprecedented” levels of stress.

“87 percent of those surveyed cited rising costs of everyday items, such as groceries and gas, as a significant source of stress,” NBC said of the report.

“Money stress,” according to the APA, is “at the highest recorded level since 2015.”

You can’t fault them when they hear bad news and have to pay more before the next payday.

 

It is now that you can support, share, and encourage the people whom you have faith.
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