Americans are finding it increasingly difficult to pay their bills and according to the Census Bureau, making ends meet in 2022 is far harder to do than during the lockdowns imposed during the covid pandemic of 2020.
The poll was conducted by the Bureau in June and July and asked adults if they have had difficulty paying their household bills and expenses over the past seven days. The data showed that around four in ten adults said it had been somewhat or very difficult to cover their household expenses.
This figure equates to around 91 million Americans who are struggling everyday with their expenses – with 43 million Americans saying they found it “very difficult to meet expense costs.
When the bureau asked the same question in 2020, around 130 million Americans said they were having a little, somewhat or very difficult time paying their household expenses – improving in 2021 after the economy began to recover – only 60 million Americans said they had somewhat or a very difficult time trying to pay their bills.
Inflation has been out of control since Joe Biden took office and this is another reason why today, Americans struggle so much with keeping up with household expenses.
In June, figures showed that year over year, inflation has risen a whopping 9.1 percent, according to the latest consumer price index of the Department of Labor. Food prices have risen by 10.4 percent and energy prices rose by 41.6 percent
An economist for Moody’s Analytics, Ryan Sweet said that the typical household is forced to spend an additional $493 per month for the same amount of goods or services that they were able to purchase last year.
Apparently, Joe Biden’s “top priority” is the inflation that he helped create, while simultaneously denying that there is a recession looming on the horizon.
According to White House Press Secretary Karine Jean-Pierre, unemployment is at a historic low and apparently, Biden is creating hundreds of thousands of jobs every month, and also claimed that America is not “in a recession or even a pre-recession [period].”
Economists and conservative politicians are disputing this claim, however, and instead blamed the covid pandemic lockdowns, supply chain issues and the skyrocketing inflation that was caused by Biden spending huge amounts of taxpayer dollars on ridiculous things – like sending billions to Ukraine.
Republican Sen. Ted Cruz of Texas said “Joe Biden is failing” in a tweet reacting to the bureau’s survey.
New York State Comptroller Thomas DiNapoli noted, “The pandemic’s effects continue to be felt in multiple aspects of life, including the elevated number of New Yorkers who continue to have trouble paying their utility bills,”
DiNapoli also revealed that one in eight New York state residents have delayed payments on utility bills, owing a combined total of more than $1.8 billion.
“The first quarter was negative. The second quarter was negative as well,” said Arthur Laffer, an economist who previously worked for the administration of former President Ronald Reagan. “If you believe the Atlanta Fed, the recession is already here. We’re in a recession. The question is, how bad is it going to be?”