August 24, 2023

Americans 'Less Financially Secure' Despite 'Slowing' Inflation: Report

Americans continue to struggle financially despite the inflation rate cooling recently, according to a new NPR report.

NPR's "Marketplace" podcast noted that many Americans continue to fall behind and are less financially secure under the economic policies of President Joe Biden.

“And even though post-pandemic wage gains have been relatively strong, especially in lower-wage service jobs, these folks are now less financially secure. For example, says Bruun, when these households are faced with an emergency household expense,” the report stated.

“The lowest income group was least likely to say they’d be able to cover it with cash, 47% said that they might not be able to pay some of their other bills if they face a $400 expense, which is pretty striking, I think," it continued.

“Food prices are up about 20% since January 2021, when the president took office," a recent Fox News report explained.

"Overall inflation is up about 16% in that time ... and now we have gas prices on the rise," it added.

In contrast, Biden has pushed his Bidenomics model to suggest that the economy is better and that his policies are working, a controversial claim that appears not to fit the evidence Americans are seeing at the pump or grocery store.

Instead, more Americans are using food banks, with many families pushing off car repairs or replacing a vehicle due to rising costs of gas, insurance, and vehicles.

Biden's administration has responded with a continued push on climate change, offering little help to those seeking to address basic life needs rather than deciding which EV to buy or whether to make their home solar-powered.

The contrast is maddening to many voters who are ready for change as the economy continues to rank as the nation's top issue.

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