Democrats Sabotage Middle Class Americans
Biden’s America is making people broke.
According to a report, the majority of adults in the United States, specifically 62 percent, rely on their paycheck to cover their expenses.
According to Breitbart, PYMNTS and LendingClub, a peer-to-peer lending platform, released a report in February stating that a significant proportion of Americans, specifically 62 percent, depend on their paycheck to make ends meet. Even high-income consumers are not exempt, with 48 percent of them living paycheck to paycheck.
According to the report, even though inflation has decreased since July, consumers are still facing the challenge of increasing costs.
The report stated that due to inflation caused by President Biden, the cost of living has increased and consumers have taken steps to manage this, including reducing their discretionary spending. However, the report also indicated that consumers can only reduce their spending to a certain extent. PYMNTS’ research indicates that consumers are exploring alternative ways to handle their reduced purchasing power.
As per the report, “supplemental income” could be the solution for some individuals, and the report pointed out that approximately 25 percent of consumers hold an additional job to earn extra money. Additionally, 17 percent of consumers have other sources of supplemental income.
39 percent of individuals who rely on their paycheck to cover their expenses and face difficulties paying their bills mentioned “extraordinary expenses” as the primary reason for seeking additional work.
Over the last 90 days, 55 percent of respondents noted that their supplemental income increased in proportion to their total income.
