Rural Americans aren’t included in inflation figures – and for them, the cost of living may be rising faster
The ConversationDec 23, 2022
The Facts
As of December 2022, 64% of Americans say they are living "paycheck-to-paycheck," according to a recent LendingClub survey. This is up from 61% in 2021 and equivalent to the historic high reached in March 2020.
51% of Americans earning $100k or more annually say that they are also living paycheck-to-paycheck. That figure is nine percentage points higher compared to last year’s survey.
The Spin
Republican narrative
The rampant inflation that has soared under Pres. Biden’s administration is causing nearly two-thirds of Americans to struggle to make ends meet. The American people know that Biden’s economy is not working, and the president’s rhetoric cannot cover up the struggle his policies are inflicting on the American people.
Democratic narrative
Despite having to deal with a global inflation crisis — fueled by COVID and Ukraine — President Biden has seen positive developments as he looks to revive the US economy. Americans are not out of the woods yet, but gas prices are down and Gross Domestic Product is higher than expected. This trend bodes well for the president.
