Posted on 07/20/2022 6:59:34 AM PDT by george76
Three out of 4 middle class households report falling behind the rising cost of living as inflation continues to soar., according to a new poll.
Primerica released the report, which found that 75% of middle-income families “say their income is falling behind the cost of living,” an eight-point rise since March. The poll found only 16% of those surveyed think they will be better off financially in a year.
Surveyed American middle-income families cited inflation as a top concern. The U.S. Bureau of Labor Statistics’ latest federal inflation data showed a 9.1% increase in consumer prices in the past year and a rise in the producer price index of more than 11%, nearly the highest ever recorded.
“Concern about the economy continues to be a major stressor, with about 41% rating inflation as their top concern,” the group said. “Being able to pay for food and groceries also ranks high (26%, up four percentage points since March) as does their current financial situation (25%, up eight percentage points since March).”
The poll found most Americans expect a recession, with only 14% expecting the economy to get better this year.
“About three-quarters (77%) say it is likely America will be in recession by the end of the year,” the group said. “In addition, 61% believe the American economy will be worse off over the next year than it is now. Just 14% think it will improve.”
All these economic difficulties have forced many Americans to cut back on expenses.
“Nearly three-quarters (71%) report cutting back on restaurant/takeout meals, up from 57% in March,” Primerica said. “Nearly the same amount (69%) say they plan to keep their current technology instead of upgrading, up from 44% in March. And about half (49%) are planning to budget or cut back on groceries, up from 37% in March. Overall, more than one-third (38%) have already delayed a major purchase due to rising interest rates, including the biggest hike by the Fed in nearly 30 years. Still, nearly the same amount (39%) say they plan to take a vacation in the next 12 months."
The Biden admin sees it as necessary pain.
I wonder if the indoctrinated masses can see that?
End of the Middle class was the point.
But will still vote democrat because, abortion!
wait ... women and minorities are not hardest hit?
God has blessed us but I have to admit, it’s shocking when we pick up a few items at the grocery store and after scanning I see “$41”.....WTH? I have it etched in memory it should be about $27-$28....It it getting tough.
This weekend I am going to take the shirts in.
If someone is depraved enough to make baby killing their deciding cause they would vote for Democrats anyway.
We buy the vast majority of our food from Costco or Sam’s Club.
That has helped isolate some costs, but when some things spiked, like avocados, we just stopped getting them.
The bread that I buy is up almost 60% in under 2 years, over $2 in the last 6 months alone.
I endeavored to install sunshades on the east wall of my house (which gets direct sun from dawn through almost 2pm this time of year).
The sunshades turned out to be the most economical part of the rather minor project (complicated by a bay window).
The hardware has nickel & dimed me to the tune of over $200 alone (Example: $6.99 for a single 1/4” rope pulley). Ironically - and thankfully, thus far - the sunshades themselves are rather inexpensive at $22 ea (x2) since I consider them sacrificial (UV & wind).
I can’t imagine being a contractor in this environment. My wife works support for a solar manufacturer and she’s getting regular earfuls from solar contractors/installers taking their frustrations out on her (overwhelmingly they’re frustrated in the costs they’re eating due to failure of solar components...something for which I have quiet belly laughs, the dirty little secret of ‘renewables’ as it pertains to solar power).
That’s what the democrat commercials tell us.
By the end of the year? We already are in recession, but to meet the criteria we have to wait a few more days for this quarter’s negative growth number to be released.
Filling my tank on the Suburban was $45 2 years ago. Today it’s $110+.
All as planned.
They will own nothing……
That is their intent.
All according to the Leftist plan. The Left HATES the middle class and unconstitutional government DESTROYS the middle class.
What does it take for America-loving Americans to realize how destructive this 80+% unconstitutional federal government is? What does it take for America to stand up, say, “ENOUGH!” and begin TEARING DOWN the $3 trillion unconstitutional portion of the federal government that is slowly but surly killing our country and the people in it????
I read the other day that, thanks to Brandon, the average middle-class American family has lost the equivalent of one months salary.
People are cutting back and doing without to “save” on expenses ‘now’ rather than wait until things get worse. I also think this is everyone regardless of their income. Even the rich are watching carefully.
I know people who have stopped going out to eat - so restraunts will be affected as well as retail etc.
📂☑️
I am trying my best doing my patriotic duty by attending meetings etc. and what everybody does is just talk talk talk and no results. I am sick and tired of all the talk and none of the criminal rats are behind jail. Pelosi still prancing around going to her multimillion dollar vacations, Schumer , The squad, warren, Maxine Waters, and AOC calling out for riots and and the assassination of our Supreme Court justices are still on the loose to commit more hideous incitement against those that disagree with them. AOC the POS still parading her big fake ass in front of the cameras without scrutiny. Yes folks the great reset is upon us and we're letting it happen AND WE WILL LIKE IT Or else it's the gulag/ Stalags for you!
Hi.
I might have to go back to work.
Nah.
5.56mm
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