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[quote=Anonymous][quote=Anonymous][quote=Anonymous]https://www.cnbc.com/2024/01/24/how-much-money-americans-have-in-savings.html

Nearly half of Americans have $500 or less in their savings accounts, an amount that leaves them vulnerable to unexpected expenses, according to a GOBankingRates survey of 1,063 U.S. adults conducted in November 2023.

Few hold much cash in their checking accounts as well. Of those surveyed, 60% report having $500 or less in their checking accounts, while only about 12% have $2,001 or more.

The lack of cash in either savings or checking accounts suggests that many Americans are living paycheck to paycheck. This leaves them vulnerable to unexpected expenses, underscoring the importance of having an emergency fund, if they’re able to build one.

https://www.cnbc.com/2024/01/24/how-much-money-americans-have-in-savings.html

The cost of living has decimated many American families. I don’t think our country is doing well if people are unable to save $500.00.

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Americans are saving at an unusually high level after Trump's tax cuts

Americans have been socking away an unusually high rate of their income since the Great Recession, which economists warn could become harmful to the economy over an extended period of time, according to the Wall Street Journal.

https://www.axios.com/2019/09/22/saving-rate-trump-tax-cuts

But of course, during the Trump administration, it was bad, very bad for the economy, for people to be able to save their own money. People should not be able to save their own money.

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Wealth disparity in America is increasing.    It's kind of ironic how for years Republicans have been screeching about "wealth redistribution" as if there's a big scheme to steal money from the rich and pass it out to the poor when in fact it's the exact opposite - the middle class is having its wealth stolen and redistributed to the richest.  [/quote]

Yes, this.  And costs of groceries increased sharply and has not gone back down. Biden made some noise a week or so ago about grocery stores price gorging. I wish he'd push this message...and also lump the food brands in their as well since it's not all the grocery stores fault.

And healthcare costs are still a struggle despite Obamacare. More people are covered which is great, but the out of pocket costs for working people receiving their healthcare through workplaces has increased.

Meanwhile, the Fed's policy of easy money/low interest rates (even the higher rates of the past year are still quite low by historical standards) has been great for the stock market and business expansion, but also has harmed those on fixed incomes.

Biden is facing a lot of issues in addition to the inequalities that have only widen under his Presidency: his foreign policy stances are polarizing and supporting Israel's outsized response in Gaza is not a good look, immigration both legal and illegal is now front in center in solid Blue states, his frequency of misstatements (ie mixing up Egypt and Mexico) and how that highlights the weakness of his older age,  etc, etc.

I'm certainly not voting for Trump, but I am not excited for Biden and I think he is in a lot of trouble. [/quote]

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