{"id":2260418,"date":"2024-06-05T12:56:02","date_gmt":"2024-06-05T16:56:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nearly-two-thirds-of-middle-class-americans-say-they-are-struggling-financially-poll\/"},"modified":"2024-06-05T12:59:13","modified_gmt":"2024-06-05T16:59:13","slug":"nearly-two-thirds-of-middle-class-americans-say-they-are-struggling-financially-poll","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nearly-two-thirds-of-middle-class-americans-say-they-are-struggling-financially-poll\/","title":{"rendered":"Poll: Majority of Middle-Class Americans Report Financial Struggles"},"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%2Fnearly-two-thirds-of-middle-class-americans-say-they-are-struggling-financially-poll%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=2260418&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--><p>The National True Cost of Living Coalition&#8217;s poll reveals \u200dthat 65% \u200bof middle-class Americans, with household incomes\u2064 of at\u2063 least $60,000 for a \u200cfamily of four, are struggling financially in President Joe \u200bBiden&#8217;s economy. Despite \u200deconomic growth and job creation post-COVID\u2063 closures, \u200binflation has surged to 7%, impacting financial stability for many Americans. The\u2063 survey by the National True \u200dCost of Living\u200c Coalition shows that 65% of middle-class Americans, with household incomes of $60,000 or\u2064 more \u2064for a family of four,\u2063 are facing financial challenges in President Joe Biden&#8217;s\u200b economy. Despite\u200b economic progress and \u200djob opportunities post-COVID shutdowns, inflation has \u2062risen \u200dto 7%, affecting the \u2064financial well-being of\u2063 many Americans.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p>Nearly two-thirds of middle-class Americans are struggling with their finances under President Joe Biden\u2019s economy, according to a poll from the National True Cost of Living Coalition.<\/p>\n<p>The poll surveyed 2,500 Americans. Among the middle-class respondents, defined as household incomes of at least $60,000 for a family of four, 65% said they are struggling financially, Bloomberg <a href=\"https:\/\/www.msn.com\/en-us\/money\/personalfinance\/majority-of-middle-class-americans-say-they-struggle-financially\/ar-BB1nB2lI\" target=\"_blank\" rel=\"noopener\">reported<\/a>. The poll also found that one in five Americans with household incomes of more than $150,000 for a family of four worry about paying their bills.<\/p>\n<p>\u201cThe economy is booming, and yet many Americans are still gasping for air financially,\u201d said Jennifer Jones Austin, chief executive officer of the Federation of Protestant Welfare Agencies, which helped commission the poll. \u201cThey simply don\u2019t have the breathing room to plan beyond their present needs.\u201d<\/p>\n<p>While the U.S. has seen <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/president-trump-gives-endorsements-for-2022-criticizes-gop-candidates-hurting-republican-party\/\" title=\"President Trump gives endorsements for 2022, criticizes GOP candidates hurting Republican Party\">job growth<\/a> under Biden following <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-cdc-director-says-covid-19-immunity-passports-could-help-u-s-get-back-to-new-normal\/\" title=\"Former CDC Director Says COVID-19 \u2018Immunity Passports\u2019 Could Help U.S. Get \u2018Back To New Normal\u2019\">business closures<\/a> during the COVID pandemic, the inflation rate remains higher than when the president took office in January of 2021. Under most of President Donald Trump\u2019s one term in office, inflation hovered around 2%. The <a href=\"https:\/\/www.usinflationcalculator.com\/inflation\/current-inflation-rates\/\" target=\"_blank\" rel=\"noopener\">inflation rate<\/a> was just 1.4% in early 2021 when Biden took over before it jumped to 7% by December of that year. In June of 2022, inflation reached a peak rate of 9.1% before it dropped again, and it now stands at 3.4%.<\/p>\n<p>President Biden has argued that skyrocketing inflation under his administration is due to the aftershock of the COVID pandemic and the policies of his predecessor. Biden even <a href=\"https:\/\/www.cnn.com\/2024\/05\/14\/politics\/fact-check-biden-inflation-when-he-became-president\/index.html\" target=\"_blank\" rel=\"noopener\">falsely claimed<\/a> that the inflation rate was already at 9% \u201cwhen I came to office.\u201d<\/p>\n<p>According to the <a href=\"https:\/\/www.bls.gov\/opub\/mlr\/2023\/beyond-bls\/what-caused-the-high-inflation-during-the-covid-19-period.htm#:~:text=The%20combined%20effects%20of%20increased,through%20the%20end%20of%202022.\" target=\"_blank\" rel=\"noopener\">Bureau of Labor Statistics<\/a> (BLS), \u201csupply-chain disruptions\u201d were a large part of the considerable inflation increase in Bidens\u2019 first year before \u201cenergy price shocks\u201d became \u201cthe primary cause of the high inflation rates from late 2021 to the middle of 2022.\u201d<\/p>\n<p>Inflation has driven up the prices of food, gas, and housing. The economic struggles of American families have made it difficult for many people to add to their savings, according to the National True Cost of Living Coalition poll. Forty-six percent of those surveyed said they did not have $500 saved \u2014 troubling findings reflect some results from the Federal Reserve\u2019s annual survey published last month.<\/p>\n<p><b><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener noreferrer\" aria-describedby=\"sk-tooltip-9096\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/onelink.to\/dwapp&#038;source=gmail&#038;ust=1716990157394000&#038;usg=AOvVaw33qQydjIo8bet419amChif\">CLICK HERE TO GET THE DAILYWIRE+ APP<\/a><\/b><\/p>\n<p>According to the Federal Reserve <a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/other20240521a.htm\" target=\"_blank\" rel=\"noopener\">survey<\/a>, 13% of respondents said they would be unable to cover a $400 emergency expense \u201cby any means.\u201d The Federal Reserve also found that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/heres-how-inflation-hurts-americans-pocketbooks\/\" title=\"Here\u2019s How Inflation Hurts Americans\u2019 Pocketbooks\">inflation remains<\/a> the top financial concern for most respondents.<\/p>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent poll by the National True Cost of Living Coalition reveals that 65% of middle-class Americans, with household incomes of $60,000 or more for a family of four, are facing financial challenges in President Biden&#8217;s economy. The survey, encompassing 2,500 participants, highlights the prevailing struggles within this demographic<\/p>\n","protected":false},"author":324,"featured_media":2260419,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/06\/GettyImages-1440703929-e1717600792880.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2260418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/06\/GettyImages-1440703929-e1717600792880.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2260418","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\/324"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2260418"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2260418\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2260419"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2260418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2260418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2260418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}