A Staggering 80% of US Households Are Worse Off Since 2020

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As reported by Bloomberg, a study shows that a staggering 80% of U.S. households saw their cash savings drop below pre-pandemic levels.

Millions of Americans are in massive debt as rates soar.

The poorest 40% of households suffered an 8% drop in cash savings, and the middle 40% (the U.S. middle class) also saw their bank deposits and other liquid assets topple. Only the wealthiest 20% of households still enjoy the extra cash they stockpiled during the pandemic, with their savings about 8% above in March 2020.

With many Americans now running low on cash in a time of inflation and sky-high interest rates, some financial analysts believe the U.S. economy could run out of steam, with a possible recession in the cards.

Inflation is still way too high no matter how often Joe Biden and his media say it’s at zero.

Annual increases (November 2022 to November 2023) have been most dramatic among the following indexes, reports Nerd Wallet.

Frozen noncarbonated juices and drinks (+18.6%).

  • Food from vending machines and mobile vendors (+14.6%).
  • Uncooked beef roasts (+12.5%).
  • Uncooked beef steaks (+9.1%).
  • Beef and veal (+8.7%).

In 2023, all food prices are predicted to increase by 5.8 percent, with a 5.7 to 5.9 percent prediction interval. Food-at-home prices are predicted to increase by 5.0 percent, with a 4.9 to 5.1 percent prediction interval. Food-away-from-home prices are predicted to increase by 7.1 percent, with a prediction interval of 7.0 to 7.2 percent.

Official data dot org:

Joe Biden and his handlers did this with poor policies, wild spending, heavy regulations, and the war on fuel.

 

 

 


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Bill Halcott
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Bill Halcott
2 months ago

I know we are. I predicted it to the people who voted for Biden back then. One of them once said to me that they could not believe how fast America has fallen apart. I told them that they voted for it. Ronald Reagan always said that the loss of freedom is only one generation away. Trump 2024! America First. ULTRAMAGA!

John Acord
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John Acord
2 months ago

Let me explain to you why you are being impoverished. Its not a complete explanation,but its a major and growing problem designed to smother the middle class. Our entire nation is being impoverished by these hordes of illegal immigrants. The politics are destructive, but the economics are devastating.
The total cost of the illegal immigrant tsunami invasion is ALWAYS misunderstood and vastly underestimated. The cost is ongoing and it has taken an immense toll on our economy. There are an estimated 40 millions of illegal immigrants and their children in this country today. Each one of them has a direct and indirect cost that total about $100,000 each per year including an estimated $35,000 per child for educational expenses and the huge cost of lower wages for native, legal American citizens. Its estimated that without these illegals the average wage would be 12% higher and that loss is an indirect, but measurable consequence of illegal immigration. Add it up. The cost is 4 TRILLION a year to the American economy. It is a cost that would not only wipe out the deficit but increase tax collections by an estimated $500B per year. Our entire infrastructure, physical and social, is deteriorating, collapsing because of this influx of basically useless, uninvited parasitic mouths that eat at our table and impoverishing each and every one of us. Please pass this post along. It’s an important message that is nearly always overlooked.

Anonymous
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Anonymous
2 months ago
Reply to  John Acord



Calcium Permaganate
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Calcium Permaganate
2 months ago

Grift prwanz is the best prawnz

pierre palmer
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pierre palmer
2 months ago

And yet half the country will pull the lever for four more years of the same.

stinkyyman
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stinkyyman
2 months ago

Having Joe Biden as our president and helping Ukraine is totally worth it. Best TAX PAYER money we ever spent! Biden/Fetterman 2024!!!