Pay Your Bills…If You Can
The news outlet The Hill notes that a recent CNN poll shows that nearly 40 percent of adults in the U.S. are constantly or frequently worried that their family’s income won’t cover their expenses…nearly 40 percent, compared with only 28 percent in December 2021, just two and a half years ago.
This is key as the 2024 general election approaches, because many folks understandably vote based on “kitchen table” or “pocketbook” issues. When the Biden-Harris Administration took over, inflation was 1.6 percent. It soon skied to 9 percent. Despite the inflation rate dropping to close to 3 percent, people notice that that is still an increase on top of an increase. People are far worse off economically now than four years ago, simply because of inflation broadly and that long period of time with inflation more than 5 times what it was in early 2021.
Some 69 percent of poll respondents say they are cutting back on extras and entertainment, while 68 percent have altered their grocery purchases, down to just essentials. More than a third—37 percent—are using credit cards to cover necessities and 35 percent have taken on extra work or a second job.
Inflation is considered by 26 percent of those surveyed as the most significant economic issue facing their families today…and 57 percent of us believe the outcome of this year’s presidential election will directly impact their financial situation.
Not being able to make ends meet to support your family will definitely keep you up at night. No wonder so many folks we see appear stressed. That’s something any candidate should address honestly, if we ever hope that an election will lead to different results.
