POLL: Over Half of Americans Believe Inflation is Bringing Them Financial Hardship

According to a recently published Gallup poll, more than half of United States households believe inflation is causing them economic hardship.

Per Gallup’s findings, 55% of Americans stated that rising prices have brought financial issues for their household.

These results were published December 6, 2022.

“The fact that Americans’ self-reports of financial hardship are leveling off rather than declining is likely a reflection of just how much prices have risen over the past year, and how much further inflation needs to subside before most Americans no longer feel burdened by it,” Jeffrey M. Jones, senior editor at Gallup, stated in a post he wrote for the polling firm’s website.

This figure was higher than 2021’s number when 45% of Americans indicated that they were in a similar position.

In addition, the poll discovered that 77% of lower-income respondents have taken a financial beating from price increases. Similarly, 60% of middle-income adults and 42% of upper-income adults faced similar inflation connected hardship.

Lower-income families were those with most of their money going towards paying rent, while also having a difficult time paying their bills.

Among lower-income respondents, 28% said they were suffering “severe” financial hardship. Per Gallup, severe financial hardship refers to financial complications that hinders a person’s “ability to maintain your current standard of living.”

With inflation now the norm in the American economy and economies in the Collective West, working class and lower-middle class people are facing unprecedented economic stress.

Unfortunately, none of the leaders in the Collective West will ever consider monetary restraint, and as a result, inflation will rage on. We can only expect further economic misery for the humblest sectors of America’s socio-economic ladder.

Inflation is a scourge that afflicts the less privileged in society by virtue of the fact that it sharply erodes savings. It’s the people closest to the freshly printed money who receive the most benefits from inflation i.e. the banksters, big business elites, and the politicians.

As long as an easy money system is in existence, there will always be sharp class divides in the US. To fix that, central banking must be abolished. It’s the only way to ensure that the US has a healthy economy where citizens can earn an honest living and raise families.

Our Latest Articles