According to The Heartland Institute, the illegitimate president’s unabated spending is hitting hard with most American families. In fact, fifty-one percent of Americans are living paycheck to paycheck.
The economic gloom due to Biden’s reckless spending and never-ending regulations has manifested throughout the economic spectrum. In fact, according to a new survey by Lending Club, a whopping 64 percent of Americans (166 million people) are living paycheck to paycheck.
What’s more, 51 percent of Americans earning more than $100,000 per year reported living paycheck to paycheck in 2022.
You’d think after 29 years in the Philadelphia Police Department, I would be making $100,000. Nope. I am still young enough to work for ten to fifteen more years, but those who have retired are getting slaughtered economically.
Perhaps most alarming is the fact that this disturbing trend is getting worse as the Biden administration refuses to reverse course on its destructive economic agenda. Per the report, in 2022, “9.3 million more consumers are now living paycheck to paycheck, and eight million, or 86%, of those consumers earn more than $100,000 annually.”
In other words, Biden’s wild spending spree, which now stands at $4.8 trillion in “new” spending in less than two years, is the primary reason Americans are struggling to make ends meet.
Based on the survey data, most Americans do not believe things will get better any time soon. In fact, only four out of 10 Americans “expect their personal finances to improve in the next year.” And, “90% of wage-earners report that their pay increases were lost to inflation in 2022, with only 42% expecting rising pay to offset price increases in 2023.”
While I was jogging Thursday afternoon, I was listening to the Dan Bongino Podcast, and a few economists mentioned the word “depression.” They said it as if they expected another Great Depression, and they expected it soon. Our hard times are just beginning, and the economy is going to get worse.
Thanks to The Pirate’s Cove for the link!