Editor’s note: This is a lightly edited transcript of the accompanying video from professor Peter St. Onge.
A new poll finds that nearly 40% of Americans worry about paying the bills “most or all of the time”—which is even higher than during the 2008 financial crisis.
The poll—from CNN, of all places—found that 39% of Americans worry about paying the bills most or all of the time.
It’s up by one-third since the worst days of Bidenflation, and higher than the 37% during the 2008 crisis, when joblessness was running nearly 10%.
The reason, of course, is inflation.
Even CNN admits “consumers are still trying to catch up to the price spikes of the last few years.”
Still trying to catch up is an understatement. The gap between nominal wages and inflation-adjusted wages since 2021 is more than 20%. So, it looks like you’re making a lot more, but…
