Biden inflation leaves 2 of 3 families living paycheck to paycheck
Living paycheck to paycheck is a phrase that describes people who have no cushion in their resources, who simply would be unable to meet their financial obligations if they would be unemployed.
What comes in this week in the paycheck goes out this week to pay bills.
Online resources explain those individuals used to be called the “working poor,” however, the phenomenon actually now cuts across many income levels and even affects those earning six digits.
The pandemic aggravated the situation, as Americans who had savings and such sometimes had to use them to pay living expenses at the time.
Now CNBC reports that nearly two-thirds of Americans now are in that boat.
“While wage growth is high by historical standards, it isn’t keeping up with the increased cost of living, which is growing at the fastest annual pace in about four decades,” the report said. – READ MORE
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