{"id":2006659,"date":"2023-08-21T07:23:02","date_gmt":"2023-08-21T11:23:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/survey-shows-bidenomics-means-americans-cant-pay-their-bills\/"},"modified":"2023-08-21T07:26:54","modified_gmt":"2023-08-21T11:26:54","slug":"survey-shows-bidenomics-means-americans-cant-pay-their-bills","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/survey-shows-bidenomics-means-americans-cant-pay-their-bills\/","title":{"rendered":"Survey: Americans Struggle to Pay Bills Under &#8216;Bidenomics&#8217;"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsurvey-shows-bidenomics-means-americans-cant-pay-their-bills%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2006659&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"article-content\">\n<p><strong>The success of Joe \u2064Biden\u2019s 2024 reelection campaign could depend on \u200dwhether he can effectively convince voters that his economic agenda has improved the lives of\u200d working-class and middle-income Americans.<\/strong> Unfortunately for \u2062the president, the best available data suggests that hasn\u2019t \u200cbeen the \u200dcase.<\/p>\n<p>Despite having committed trillions in new <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-republican-introduces-austerity-bill-to-kill-zombie-government-programs\/\" title=\"House Republican Introduces Austerity Bill to Kill \u2018Zombie\u2019 Government Programs\">government spending programs<\/a>, \u200cand\u200c running massive deficits in the process, government surveys reveal millions of working Americans\u200c believe they are\u2063 worse off than they were in January 2021, when Biden first \u200dentered the White House.<\/p>\n<div class=\"fdrlst__b89e9-paragraph-2-long d-flex justify-content-center\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"fdrlst__b89e9-1110819342\">\n<div id=\"div-gpt-ad-1379703300879-0\" class=\"mb-30\"><\/div>\n<\/div>\n<div class=\"fdrlst__b89e9-5a34ab427c85e25baf0e893f826d1baa fdrlst__b89e9-paragraph-2\" id=\"fdrlst__b89e9-5a34ab427c85e25baf0e893f826d1baa\"><\/div>\n<p>The \u2062U.S. Census Bureau regularly conducts Household Pulse Surveys (HPS). Among other\u2062 things, the <a href=\"https:\/\/www.census.gov\/data\/tables\/2023\/demo\/hhp\/hhp59.html\" target=\"_blank\" rel=\"noreferrer noopener\">Household Pulse \u200dSurveys<\/a> ask respondents about \u2063spending and debt, loss of employment, anxiety,\u200d and the effects of natural disasters.<\/p>\n<p>One\u200d of \u2062the most important\u200c questions included in the HPS asks Americans about their \u2062\u201cdifficulty paying for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/editor-daily-rundown-americans-struggle-to-pay-the-bills\/\" title=\"Editor Daily Rundown: Americans Struggle To Pay The Bills\">usual household expenses<\/a>.\u201d In a truly\u2063 healthy, growing \u2063economy,\u2062 fewer, not more, working Americans\u200b should say that they are having \u2063less trouble paying their \u201cusual\u201d bills.\u200d But the exact opposite has occurred.<\/p>\n<p>In January 2021, \u200bthe first month of Biden\u2019s presidency, an estimated 80.53 million \u200dAmericans found it \u201csomewhat\u201d\u2063 or \u201cvery\u201d difficult to pay their household expenses. According to the most recent\u2063 HPS\u200d survey, \u2062conducted in\u200c July 2023, that\u200d number soared\u200b to 86.92 million, an increase of more than 6 million.<\/p>\n<p>That means in Biden\u2019s America, more than 1 in 3 households are\u200b struggling to pay their bills.<\/p>\n<div class=\"fdrlst__b89e9-3609a57e62dacc6ddb0f7c14c9aa85d7 fdrlst__b89e9-paragraph-6\" id=\"fdrlst__b89e9-3609a57e62dacc6ddb0f7c14c9aa85d7\"><\/div>\n<p>The income brackets most affected \u200bare those earning $50,000 to $150,000, many of whom would be considered\u200d part of America\u2019s\u200c \u201cmiddle class.\u201d For example, the number of households earning $50,000\u2064 to $75,000\u200d that are having trouble paying their usual household \u200cexpenses increased from 10.01 million in January \u200c2021 to 13.34 million in \u2064July 2023.<\/p>\n<p>The HPS survey data \u200dfurther suggests that Americans having trouble covering their costs are \u200bturning to credit cards, personal loans, and other forms of\u2062 debt for relief. In July 2023, 85.46 million \u200cAmericans\u2062 relied on \u201ccredit cards or loans\u201d to \u201cmeet spending needs\u2063 in the \u2064last 7 days.\u201d In July 2022, \u200dthe number was just 74.89 million.<\/p>\n<p>A growing dependence on credit\u2063 cards is particularly troubling considering that the credit card delinquency rate \u2014\u200d which measures \u200cthe proportion of credit customers who\u200d have fallen behind on their bills \u2014\u200c has increased in each of the past\u2064 seven\u2064 quarters and is now <a href=\"https:\/\/www.axios.com\/2023\/08\/15\/credit-loan-delinquency-2023-above-pre-pandemic-levels\" target=\"_blank\" rel=\"noreferrer noopener\">higher<\/a> than it was before the pandemic started. Auto loan delinquencies in\u200c the second \u2064quarter of 2023 also <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gov-desantis-americans-are-flocking-to-freedom\/\" title=\"Gov. DeSantis: Americans are flocking to freedom\">topped pre-pandemic levels<\/a>.<\/p>\n<p>The HPS surveys aren\u2019t the only data suggesting working Americans are suffering under Biden\u2019s\u2064 economic agenda. A LendingClub report\u200c published\u200d earlier\u200c in 2023 suggests <a href=\"https:\/\/www.cnbc.com\/2023\/07\/31\/61percent-of-americans-live-paycheck-to-paycheck-even-as-inflation-cools.html\" target=\"_blank\" rel=\"noreferrer noopener\">61 percent \u200bof Americans say they are living paycheck to paycheck<\/a>. In cities, the \u2063number is \u200deven higher, coming in \u2063at <a href=\"https:\/\/www.prnewswire.com\/news-releases\/69-of-americans-in-urban-areas-are-living-paycheck-to-paycheck-14-percentage-points-higher-than-suburban-consumers-301832741.html\" target=\"_blank\" rel=\"noreferrer noopener\">69\u2062 percent<\/a>.<\/p>\n<div class=\"fdrlst__b89e9-4937f675eb22f691d77b510c51463e31 fdrlst__b89e9-paragraph-10\" id=\"fdrlst__b89e9-4937f675eb22f691d77b510c51463e31\"><\/div>\n<p><a href=\"https:\/\/fortune.com\/recommends\/banking\/57-percent-of-americans-cant-afford-a-1000-emergency-expense\/\" target=\"_blank\" rel=\"noreferrer noopener\">Even more stunning, 57 percent of Americans say \u2064they can\u2019t afford to cover an emergency \u2064expense of $1,000 or more<\/a> \u2014 much less than\u200c the cost of \u200dmany families\u2019 health insurance deductibles.<\/p>\n<p>Although many <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/survey-shows-bidenomics-means-americans-cant-pay-their-bills\/\" title=\"Survey: Americans Struggle to Pay Bills Under 'Bidenomics'\">left-wing \u200bpundits act<\/a> as though the current state of the economy is nothing short of a \u2063modern golden age of economic prosperity, the evidence is overwhelming that Democrats\u2019 reckless \u2063spending programs and\u2063 expansion\u200d of the \u200dsize and influence\u2062 of government have\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/she-claimed-she-poisoned-her-rapist-with-hemlock-a-police-investigation-determined-she-lied\/\" title=\"She Claimed She Poisoned Her Rapist With Hemlock. A Police Investigation Determined She Lied.\">caused significant harm<\/a> to millions of families.<\/p>\n<p>The source\u200d of\u200c the \u200dproblem\u200b is\u200b not \u200bhard to pinpoint, either. \u200cDemocrats have spent trillions upon trillions of dollars without offsetting the increase with additional tax\u200b revenue, effectively printing huge amounts of money. Those spending increases\u2062 have created inflation that has yet \u200bto be reversed, and probably never will \u2064be.<\/p>\n<p>Republicans aren\u2019t totally without blame, either. They agreed to completely\u2063 unnecessary Covid spending programs, such as sending\u200d checks \u200dto millions of Americans who never lost their jobs\u2063 during the pandemic, and \u200cthey failed to \u200dfix entitlement \u2064programs in\u2064 2017 and\u200b 2018, \u2064when they last had control of Congress and the White House.<\/p>\n<p>Despite Republicans\u2019 failures, though,\u2063 the vast majority of the blame clearly lies with President Biden and congressional Democrats. Never before\u200c has\u2063 a group of politicians so \u200brecklessly and unnecessarily increased \u2063government spending.<\/p>\n<p>As a result of \u2064their inflationary policies, prices for almost everything are higher now\u200d than they were just a few years ago.\u200c To purchase the same items that collectively\u200d cost $200 in January \u200c2019 would \u200dcost consumers <a href=\"https:\/\/data.bls.gov\/cgi-bin\/cpicalc.pl?cost1=200&#038;year1=201901&#038;year2=202307\" target=\"_blank\" rel=\"noreferrer noopener\">$243 today<\/a>, and that\u2019s using deeply \u200bflawed CPI numbers, <a href=\"https:\/\/www.nationalreview.com\/2021\/04\/how-official-statistics-underestimate-inflation\/\" target=\"_blank\" rel=\"noreferrer noopener\">which fail\u200d to account for inflation in\u200c huge swaths of the economy<\/a>.<\/p>\n<p>The average price of\u200c unleaded gasoline is up <a href=\"https:\/\/www.eia.gov\/dnav\/pet\/hist\/LeafHandler.ashx?n=pet&#038;s=emm_epm0_pte_nus_dpg&#038;f=m\" target=\"_blank\" rel=\"noreferrer noopener\">53 percent<\/a> compared to\u200c when Biden first took\u200c office.<\/p>\n<p>The price of a gallon\u2064 of\u200b milk increased by <a href=\"https:\/\/www.usinflationcalculator.com\/inflation\/milk-prices-adjusted-for-inflation\/\" target=\"_blank\" rel=\"noreferrer noopener\">23 percent<\/a> from 2020 to the end of 2022.<\/p>\n<p>The average sales price of a\u2062 home is <a href=\"https:\/\/fred.stlouisfed.org\/series\/MSPUS\" target=\"_blank\" rel=\"noreferrer noopener\">more than $120,000 higher today<\/a> than\u200d it\u2064 was at the start of the pandemic.<\/p>\n<p>The results speak\u200d for themselves.\u200b Higher costs, struggling families, and more\u200c debt \u2014 that\u2019s \u200bwhat \u2062\u201cBidenomics\u201d really looks like.<\/p>\n<div class=\"fdrlst__b89e9-ea427bf88d0bacf520ba78876ba7270e fdrlst__b89e9-after-post-content\" id=\"fdrlst__b89e9-ea427bf88d0bacf520ba78876ba7270e\"><\/div>\n<hr class=\"wp-block-separator\">    \t\t\t\t\t   \t\t\t\t\t\t\t\t\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The outcome of Joe Biden&#8217;s 2024 reelection bid hinges on his ability to persuade voters that his economic agenda has benefited working-class and middle-income Americans. However, current data indicates otherwise. Despite massive government spending and ongoing efforts, the desired impact seems to be lacking.<\/p>\n","protected":false},"author":993,"featured_media":2006660,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[546],"tags":[],"class_list":["post-2006659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-federalist"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2006659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/993"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2006659"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2006659\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2006660"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2006659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2006659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2006659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}