Two in three Americans have seen their household expenses climb over the past 12 months, while only one in four says their household income has increased, according to a new poll from The Associated Press-NORC Center for Public Affairs Research.
Fifty-four percent rated their financial situation as “good,” about the same as a year ago, but down from 63 percent in March 2022.
For a majority of respondents, household debt has either increased or not decreased, they told pollsters.
Eighty percent of respondents say their household debt has grown over the past year or not decreased. Roughly half struggle with credit card debt and 25 percent are dealing with medical debt.
Only 15 percent said their savings have increased in the past 12 months.
Among the survey’s other findings:
- only 26 percent say they could cover the cost of a sudden medical expense;
- just 18 percent are confident they have enough money to retire;
- 30 percent have delayed a major purchase because of high interest rates;
- 25 percent must now resume student debt payments.
The survey polled 1.163 adults from 5 through 9 October.
TREND FORECAST: The hard facts make clear the economic pain that the plantation workers of Slavelandia are suffering. As we have forecast, the current economic bump in the United States will be fading fast. The economic and mental pain felt on Main Street will not become a reality until it hits Wall Street. When the Dow dives it will be a crash heard not only from coast-to-cost… it will be a crash heard around the world.