In the United States, over the last several decades there has been an unquestionable decline in the quality of life of most American citizens. Indeed, the cost of living has continued to rise to astronomical heights. Since the 2021 calendar year, Economic problems have become the norm in the United states. Following the 2020 presidential election in which the long time and career politician Joe Biden defeated Donald Trump to become the 46th president of the United states, Biden touted a bold, reckless, spending agenda that resulted in trillions of dollars in new federal spending being approved by congress and his administration early in his presidency. This has resulted at least in part in the levels of rampant inflation that have crushed the average American citizen and household. These levels peaked in late 2022 at heights not witnessed since the 1970s. The cost of living has soared, and the price of basic necessities like food, household cleaning supplies, energy costs, and other basic expenditures have increased to such an extent that Americans simply cannot afford the same items they once could just a few years ago.
Making matters worse, wages have largely stagnated. While this reality has been apparent for decades, the effects of inflation have further exacerbated this issue and the buying power and spending power of the dollar has seriously declined. It is estimated that some six out of every ten citizens are surviving on a week-to-week, check to check basis. Consumer credit card debt has ballooned to record levels. Things are not looking good for many Americans in terms of fiscal and financial realities.
As the 2024 presidential election draws ever nearer, most voters are stating that they trust Donald Trump, the Republican nominee and former president, over the incumbent Biden in terms of the economy. Both men remain largely unpopular in an increasingly polarized, tense nation. Only time will tell what happens in the November affair.
