Thanks to Joe Biden’s failed economic policies, three out of four middle class families are slipping deeper into debt and falling behind in the face of mounting prices.
Primerica released its new report which found that 75% of middle-income families “say their income is falling behind the cost of living.” It is an eight-point rise since March. Only a mere 16 percent said they were better off.
Per Center Square:
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.”
The poll added that 71 percent said they have been forced to cut back on spending to try a makes ends meet. Americans are cutting things such as eating out, going to the movies, buying new electronics, and other extraneous expenses have been cut from monthly budgets, the poll found.
Joe Biden is truly destroying this country. If you vote for a Democrat this November, you deserve the economic ruin that will bring.Commentary