Americans Feeling The “Fiscal Pain” Of Inflation

by | Jun 28, 2023 | Headline News

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    Many Americans are feeling “fiscal pain” this year as inflation continues to strike. The prices of food, shelter, healthcare, and transportation keep climbing higher and their paychecks are unable to keep up.

    About 52% of Americans participating in a USA TODAY/Suffolk Poll said the United States is too expensive to live in. Additionally, nearly seven in 10 Americans said stifling inflation and the economy are the nation’s top problems today, according to a new Pew Center survey. A majority across age, gender, and race told Pew inflation is “a very big problem.”

    “Their spending power has been minimized,” said Gene Ludwig, former head Comptroller of the Currency, a  United States Treasury Department bureau. The typical American household spends about $768 more on monthly purchasing goods and services these days compared to 2020 because of high inflation, added Mark Zandi, the chief economist of Moody’s Analytics.

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    “The economy is struggling due to these ongoing battles,” said Zandi, who gave the U.S. economy a B- grade. “If you ask the typical American, I think they feel uncomfortable. The good news is many people still have jobs and wage growth has been solid, but it’s not enough to feel good about shelling out more money for basic needs.”

    “We have to find new tools to tame inflation because when you raise interest rates, those who get hurt the most are low- and middle-income Americans,” Ludwig said. “It’s disproportionately painful and unfair.”

    Meanwhile, the ruling class can manage to send billions of dollars to Ukraine in order to keep the war going and they are constantly threatening to steal more from the public as they continue to clamp the slave chains down on everyone.

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    Many are being pushed to the brink as the rulers continue to break the backs of the slave class. Until we all realize what’s being done to us so a few can keep power over everyone else, we will continue to suffer oppression, and poverty, and be depopulated on the whim of those we think have some magical right to rule.



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