American Families In Deeper Debt Under Biden
Why are Democrats ignoring this.
If you thought higher prices and inflation wasn’t that bad, think again.
New reports have just come out showing that American families are spending so much extra money on basic needs such as housing, food, gas, transportation and medical care, they are quickly falling into debt at a faster rate.
In just the last two years, the average income fell by 3% and what’s worse is that the cost of living rose by 7% do to rising housing and medical costs.
According to CNBC, a whopping 78% of Americans have accepted some form of pandemic relief since March 2020. That relief was then most likely used on necessities, savings or paying down debt after Nerdwallet took an analysis of over 2,000 Americans.
Sadly however, one-third of households were forced to admit that their financial situation has gotten even worse in the past year.
NerdWallet’s Sara Rathner stated, “The past year and a half was already tough for the millions of Americans who lost jobs. Now, we’re faced with rising costs for much-needed items — food, housing, gas, transportation and medical care.”
“It remains difficult for many to catch up.”
