Poll: 70% Feel Financially Stressed in Joe Biden’s America

By WENDELL HUSEBØ – 11 Apr 2023 – for Breitbart news

My cmnt: My wife and I lived through the terrible Carter years. Double digit inflation, unemployment, mortgage rates, and interest rates on loans. I lost my secure job of four years and for the first time in my life could not find a job. Every time we elect a democrat for president the whole country goes to hell. FDR was the worst with his mismanagement of both the Great Depression (which he extended by ten years) and WWII along with an administration rife with communist spies. JFK practiced Republican financial policies of tax cuts and growth and so the sixties started well but the commie-Lib bastards had him shot. Then came Carter – an absolute disaster both domestically and in foreign policy. The Great Ronald Reagan made the 80s great. Then the anomaly of Bill Clinton. He was a typical democrat in his serial abuse of women but when it came to domestic policy he had a Republican House for the first time in 40 years and signed a balanced budget as a result. Then came the disaster of Obama in every way you can possibly image. Again I was laid off from a secure job of 30 years and he began the Great Recession. He ran up the national debt paying off democrat big donor banks and bailing out the unions and pumping money into Wall Street to keep the markets from collapsing due to his policies. Finally the Great Donald Trump saved us from Hillary and created the best economy since the early 60s. Now we have that utter moron and imbecile, the senile and dementia ridden, old Joe Biden and he manages to destroy the Trump economy, mismanage Covid, and set the world on the brink of economic collapse and world war 3. He’s also run up an additional 12 trillion dollars of national debt with absolutely nothing to show for it except greasing the palms of fat cat democrat donors.

Seventy percent of Americans feel financially stressed in President Joe Biden’s America, a CNBC Your Money Financial Confidence survey revealed Tuesday.

Inflation, fueled by Biden’s war on American energy, was the main driver of their stress, as 60 percent of respondents pointed to Biden’s inflation as the main reason for financial stress.

On average, Biden’s 40-year-high inflation costs American households an extra $5,200 in 2022 or $433 per month, according to Bloomberg.

Thirty-six percent said increased interest rates caused them stress. The Federal Reserve continued to increase interest rates in March to tamp down inflation, a decision subject to speculation by financial experts, as the central bank weighed reducing soaring inflation and the stability of the banking system.

The interest rate hikes over the past year have negatively impacted banks, influencing public economic sentiment.

“The recent failures of Silicon Valley Bank and Signature Bank and worries about the health of the U.S. financial system add to the uncertainty. Only 13% of adults said they are very confident in America’s banking system,” the poll found. “About a third said the recent banking crisis made them much more concerned about their own financial security, and 42% said it made them somewhat more concerned.”

The poll revealed additional concerning trends, such as the amount of those living paycheck to paycheck and credit card delinquency rates:

The survey found most Americans (58%) are living paycheck to paycheck. Struggling to make ends meet, many are relying on credit cards to cover any shortfalls. Meanwhile, nearly one-quarter of those surveyed said credit card debt also contributed to their financial stress.

Government data shows credit card balances are rising and delinquency rates are increasing. Household debt levels surged by $38 billion in February from a year ago, according to a report by the U.S. Federal Reserve.

Only 45% of U.S. adults said they have an emergency fund. And, for those who do have emergency savings, about 26% polled said they have less than $5,000 saved.

The CNBC poll surveyed 4,336 adults at the end of March. The poll did not report a margin of error.

Follow Wendell Husebø on Twitter @WendellHusebø. He is the author of Politics of Slave Morality.

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