Not only are families taking on more debt at the fastest pace in 15 years, they’re worried about future job losses.
With more than 40 percent of Americans worried about layoffs – the highest percentage since the early days of the pandemic – families also believe higher prices are here to stay, according to a recent survey.
This comes as the White House has said they’re not preparing for a recession – despite the worries from Main Street.
Americans are suffering in Biden’s cruel economy.
- More than 40 percent of Americans are worried about layoffs – the highest share since April 2020.
- Between July and September, the debt taken on by households jumped by $351 billion – the largest increase since 2007 – as more families turned to credit cards to afford basic necessities.
- With a majority of workers stressed about their finances amid rising prices, more than 20 percent report they’ve tapped into emergency savings to pay their bills, while another 20 percent report working extra hours.
- A Biden recession could exacerbate the suffering of minority Americans struggling with skyrocketing prices.
In order to stay warm this winter, American families will pay the highest energy bills in decades.
- Families who heat their home with natural gas will pay $1,094, up more than 20 percent from last year.
- Families who heat their home with oil (typically in the Northeast region) will suffer even more, with an average bill of $2,354.
- Families who rely on propane to heat their home will spend about $1,970.
Republicans will hold the Biden Administration accountable and deliver a stronger economy.
- Ways and Means Republicans have vowed to track down the waste of taxpayer dollars, fight for transparency, and hold the Administration accountable for its unprecedented executive overreach.
- From making the historic GOP tax cuts permanent, to rolling back burdensome federal regulations, Republicans are committed to creating a stronger economy for American workers.