“savings run low and their cost of living runs high”

Record-high prices are crushing working Americans, and it’s only getting worse.

The New York Times reported on just how badly folks are still feeling the sting. Some key details from their dispatch that show the pain families are feeling in Democrats’ America:

  • Millions of Americans are feeling similarly stuck as their savings run low and their cost of living runs high. Now, the economy appears poised to slow — potentially sharply — in ways that could limit wage growth and cause job losses even as prices remain elevated.
  • Now, as savings run dry and consumers struggle under the weight of higher prices and rising interest rates, early cracks are beginning to show — and are likely to widen from here.
  • A woman from Dallas expressed her exasperation to the NYT: “That savings is pretty much gone now. As things have gotten so expensive, it’s been almost a paycheck-to-paycheck life.”
  • Families are doing much worse than they were a few months ago.” – an economist at Barnard College
  • One woman pleaded to the NYT saying, “Am I going to have to cut my meals back? Am I going to have to eat once a day as opposed to three? I don’t know. It’s just tough.”

“Democrats’ inflation crisis has wiped out savings and left Americans barely scraping by,” said CLF Press Secretary Cally Perkins. “The economy is going from bad to worse and voters have only Democrats’ reckless spending to blame for leaving them worse off than ever before.”