November 02 2024
According to a new study, nearly Half of Americans feel they are living paycheck to paycheck. Kamala’s crushing inflation has made it nearly impossible for many Americans to make ends meet.
ICYMI: More Americans living paycheck to paycheck than 5 years ago
- “The share of U.S. households living paycheck to paycheck has grown across all income brackets over the past five years, according to a new study from the Bank of America Institute.”
- “A new analysis released by the think tank on Tuesday found that more than a quarter of Americans, 26%, have necessary expenses that chew up more than 95% of their takehome pay, and nearly a third, 30%, of households spend upwards of 90% of their income on critical bills like groceries, housing, utilities, gas, insurance and child care.”
- “The data showed a 10% increase in those living paycheck to paycheck in 2024 compared to 2019.”
- “Regardless of the study's definition, nearly half of Americans currently feel they are living paycheck to paycheck, the BofA Institute found.”
- “Lower-income households have predictably been impacted the most, with 35% of those making less than $50,000 annually falling into that category, but every income bracket showed at least 20% have little left over after necessary spending, including those making more than $150,000.”
- "Rising prices has impacted all incomes and generations, so it’s not surprising we see some rise in the share of people living paycheck to paycheck across these cohorts too,’ Tinsley said. ‘Housing costs are an important component and older generations and those on higher incomes often have bigger mortgages, which means that some can live paycheck to paycheck even on higher wages."
Read the full study here.
BOTTOM LINE: Under President Trump wages soared and there was no inflation. It’s time to elect a proven leader on the economy.