In another sign the economic policies of Democrats and Republicans are failing Americans, a new survey released shows that 1 in 5 workers run out of money before their next paycheck. In fact, data based on a poll of 3,000 shows that 20% frequently run out of money between paychecks, which is up from 15% at the same time last year.
What you need to know about how the poor economy is impacting U.S. workers
Inflation rose 7.9% in February.
Cost of living is outpacing wage growth at its fastest pace in about four decades (since the early 1980s).
1 in 5 American workers run out of money in between paychecks, placing a significant financial and emotional strain on them and their families.
More than three-quarters of Americans say that inflation has impacted their finances over the last year, including 25% that said they cannot afford necessary expenses and over 30% who said they cannot build their savings.
Since the Democrats and Republican did not anticipate supply chain issues, despite warning signs from the start of the COVID pandemic, they are now not acting to help maximize wage gains by addressing the higher energy costs that are impacting food, transportation and other goods, or the high taxes middle income earners need to pay. In fact, the Biden administration is advocating tax breaks and incentives for large corporations, like Intel, and the Republican Party is pushing tax cuts for large corporations. Neither party is supporting entrepreneurs and small business owners, or families that more adversely impacted by higher costs.