In a recent survey conducted by the Federal Reserve Board, a record percentage of Americans revealed that they are facing worse financial conditions compared to the previous year. According to the “Economic Well-Being of U.S. Households” report, 35 percent of adults reported a decline in their financial situation in 2022, marking the highest share recorded since the survey first included this question in 2014.
Between 2021 and 2022, the financial well-being of Americans experienced a significant decline. The report highlights that the proportion of adults who considered themselves to be at least financially stable decreased by 5 percentage points to 73 percent last year. This figure represents one of the lowest levels observed since 2016.
The survey also revealed that 54 percent of adults stated that their budgets were greatly impacted by the rising prices in the United States. Notably, this percentage was even higher among Black adults, Hispanic adults, parents living with children under 18, and individuals with disabilities.
Additionally, the percentage of adults who indicated spending less than their income in the month prior to the survey declined to a level below that observed before the onset of the COVID-19 pandemic.
“The declines in financial wellbeing across these measures provide an indication of how families were affected by broader economic conditions in 2022, such as inflation and stock market declines,” the report reads.
A separate poll from The Associated Press-NORC Center for Public Affairs Research, just 24% of Americans said the nation’s economic conditions are in good shape, down from 30% last month.
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5 Responses
Only known cure unto mankind to remedy this:- Vote for President Donald Trump שליט”א on 11/5/2024
#bidenflation
There are a few factors that are involved
1) interest rate
רמב״ם משפטים talks about it in the most vocal way it says עד כדי מחייתו ומזונו
And obviously it surpassed that stage
2) budgeting…
Lower your credit balances
If you don’t need it skip on it
3) invest, invest, invest
Now between רמב״ם משפטים and spending habits and budgeting there is a middle ground.
The problem is not financial the problem is not inflation the problem is “Avdus”
In Mitzraim it took bnai Israel 204 years
In Europe it 1,100 years Janet yellen is no different than Yosef and Paro
And president Biden is no different than the worst dictators that the world has ever experienced, the only difference is that he does it in a much more passionate
Way wake up we are in Mitzraim of 2023
and what is going to be done about it…?
Give $3 million plus. that’s a great idea no? it will be beneficial for the collective struggle the USA (AND ANYWHERE IN THE WORLD) that we are going through….
So what going to be done about it?
reparations?
$3 million maybe??