About one in six households had trouble paying all of its monthly bills in 2023, and the situation seems to be worsening. More than 66 percent of U.S. households are feeling the heat as it becomes "much worse" for many of them to make ends meet.
The Federal Reserve published this and more in a report called Economic Well-Being of U.S. Households that it releases annually. Things were generally great for the average person in 2021, according to the report, but the situation has deteriorated dramatically as we reach the 2024 halfway point.
"Despite the moderating pace of inflation, many adults continued to indicate that higher prices were a challenge in managing their finances," the report reads.
(Related: YouTube has begun openly bragging about manipulating elections by banning videos that contradict establishment narratives.)
The Fed says inflation is "cooling"
Your grocery receipts are apparently lying to you because the Fed insists that inflation "cooled" in 2023 to 3.4 percent after hitting 9.1 percent in 2022. As of April 2024, annual inflation according to the Consumer Price Index was back at 3.4 percent.
The Fed's inflation target is two percent, meaning prices are still much higher than they should be, especially when taking into account the reality that true inflation figures are much, much higher than what the government and special interests are claiming.
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"The [Fed] committee seeks to achieve percentages over the longer run," the report reads.
The Fed claims that 72 percent of all adults in the U.S. are "doing at least okay financially," a figure slightly lower than the 73 percent that said the same in 2022. The record high was hit in 2021 when 78 percent of U.S. adults said they are doing fine overall – a low was hit in 2013 when just 62 percent of U.S. adults said they were okay.
Roughly half of the country says it could cover an emergency cost of up to $2,000 should one arise, but nearly one in five adults is also so poor that even a $100 emergency would be too much.
Fourteen percent of the country says it could handle an emergency expense of up to $499 while 17 percent say they can barely keep up with their monthly bills.
While financial wellbeing is generally the same as it was in 2022, children under the age of 18 who are still living at home with their parents are much worse off. Compared to the 75 percent of this demographic that pre-2022 said it was "doing okay," today just 64 percent of under-18s are feeling something other than bad.
Nearly three in 10 parents living with children under the age of 13 say they have paid for childcare, the median costs of which are up to $1,100 per week. These same parents pay up to 70 percent as much on childcare as housing, the survey found.
The U.S. government is a dismal failure, in other words. Corrupt deep state policies have added mountains of new debt, crippling U.S. sanctions and substantially higher prices for just about everything.
"Not long ago it was the U.S. government that encouraged manufacturers to move to China so you can make cheaper goods for U.S. consumers," a commenter wrote at RT about all this.
"The U.S. is to blame for all of its problems without exception. You dug the hole, U.S. government – now you are costing the U.S. voters for your blatant stupidity."
"I don't understand how Americans can support external wars when they have financial challenges," wrote another.
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