As the results of a recent national survey indicated, America is experiencing a wave of financial anxiety that is affecting millions. Most of them point fingers at the Trump administration for higher prices and a shaking economy. The survey found that almost one in four Americans stress about their finances three or more hours a day. These concerns usually hinge on whether they can afford to put food on the table. This big picture issue is a reminder of the impact Americans … Continue reading This big picture concern underscores the troubling realities …
The findings indicate that nearly 80% of Americans fear that tariffs imposed during Trump’s presidency will lead to increased prices for everyday goods. This sentiment particularly rings true among Republicans, as 7 in 10 GOP fear economic fallout from these tariffs. 63% of respondents are convinced that the policies enacted under Trump have caused grocery prices to increase. At the same time, 61% believe these policies have worsened the overall cost-of-living.
Over 51% of the respondents think that corporations are a big part of making life harder for people just trying to make a living. This has been the trend over the last quarter century. Over 50% of Americans, 52% to be precise, believe that billionaires have created a worse world for regular, working people. This belief contributes to a growing crisis of faith regarding wealth inequality.
The survey further shines a light on a series of shocking statistics about the personal sacrifices families are making to stay financially afloat. Over the last year, one in four Americans said they had to go without meals in order to save money. Furthermore, 26% said they have recently struggled to make their monthly bills. Furthermore, 47% shared worry over how they would make rent or mortgage payments.
Further emphasizing the impact of Trump’s economic policies, Julie Margetta Morgan elaborates on how these decisions have inadvertently raised prices.
“Millions of Americans, across parties, across backgrounds, are deeply anxious, and they’re struggling to afford basics like housing and health care. Donald Trump is making these struggles worse.” – Rachel West
Worries about the economy, Americans are very fearful Americans’ fear of the economy is tempered, though, by an evident new fear— a looming economic recession. Even more alarming, 76% of survey-takers said they feared a recession was on the way. This uncovers an underlying fear about losing their jobs and economic well-being. Over six in ten Americans report that it’s getting harder to find jobs that pay good wages. They can’t afford to purchase houses or pay for childcare.
“Donald Trump has simultaneously raised prices on everyday goods through a reckless approach to tariffs, a decimation of programs that help Americans afford healthcare, education, food and childcare, and then kneecapping federal regulators who keep banks and other big businesses from swindling consumers.” – Julie Margetta Morgan
Eighty-three percent of Americans say they think about the cost of groceries before they buy them. A majority of them—or close to—are quite worried about this issue. The consequences extend well past dollar amounts. Together, they tell an urgent story about the pain and desperation that families endure across every corner of our country.
The financial landscape — worsened by the ongoing impacts of COVID-19 — has deepened these alarming conditions for many households, as illustrated in our survey findings. Americans are relying on credit cards, payday loans and other expensive financial products. They resort to these practices in order to combat the pressure of increasing costs and flat revenue. Broader implications for consumer protection & corporate power This trend is deeply concerning in terms of consumer protection and the growing corporate power to distort financial products for profit.
The financial landscape has created alarming conditions for many households, as noted in the survey findings. Individuals are increasingly relying on credit cards, payday loans, and other financial products in an attempt to cope with rising expenses and stagnant earnings. This trend raises concerns about consumer protection and the unchecked power of corporations in manipulating financial products for profit.