Two-Thirds of Americans Now Live Paycheck to Paycheck Due to Inflation

The U.S. economy is strained to the point of breaking Americans’ budgets, and this week’s releases of consumer and producer inflation data showed that the pain being felt by American families and U.S. companies isn’t going to ease up soon. 

As a result of steadily rising inflation that kicked off just after President Biden took office and has so far reached and stayed in 40-year high territory — including repeated all-time records set for fuel prices — Americans’ budgets are being stretched to the breaking point and then some. 

That’s because, even as wage growth is trending higher — around five percent over last year — the eight-plus percent consumer inflation means Americans’ real wages are actually three percent lower than twelve months ago.

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Author: HP McLovincraft

Seeker of rabbit holes. Pessimist. Libertine. Contrarian. Your huckleberry. Possibly true tales of sanity-blasting horror also known as abject reality. Prepare yourself. Veteran of a thousand psychic wars. I have seen the fnords. Deplatformed on Tumblr and Twitter. View all posts by HP McLovincraft