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Even households earning $150,000 a year are struggling with credit card and car payments
(www.cbsnews.com)
this post was submitted on 30 Jul 2025
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Well the rich are gaining obscene amounts of money. So many of the large companies are pulling in record profits. So in that sense, the american economy is growing. The peoblem is theyre squeezing the rest of us for that.
60% of Americans living pay check to pay check for whatever reason. In 2008 this number was 40%.
There is no way to tell why this is happening. 🤡
Its actually up to 68% now.
Source?
Article:
https://www.financialexpress.com/world-news/us-news/living-pay-cheque-to-pay-cheque-you-are-not-alone-68-of-americans-are-too/3923390/
Source Study:
https://www.pymnts.com/wp-content/uploads/2024/02/PYMNTS-New-Reality-Check-February-March-2024.pdf
Oh hey, Forbes says nearly 72% of those living paycheck to paycheck have less than $2,000 in savings!
https://www.forbes.com/advisor/banking/living-paycheck-to-paycheck-statistics-2024/
Yeah, this is what an economic collapse looks like, Great Depression 2.0, hold onto your butt, and good luck.
EDIT:
We also have a massive negative net worth problem.
Negative net worth means you have more debt than assets.
Because this is difficult to measure accurately, unless you are a credit bureau....we've got anywhere between 1 in 10 and 1 in 3 Americans with more debt than assets, ie, they are de facto debt slaves.
https://www.creditkarma.com/about/commentary/americans-have-a-net-worth-problem-and-its-not-positive
https://www.nasdaq.com/articles/whats-your-net-worth-25-of-americans-say-theirs-is-%240-or-less
https://www.aspeninstitute.org/blog-posts/thirteen-million-us-households-have-negative-net-worth-will-they-ever-move-from-debt-to-wealth/
These are all from 2 or 3 years ago, I imagine its now closer to 1 in 3 than 1 in 10.