58 percent of Americans in new poll say they’re living paycheck to paycheck
58 percent of Americans in new poll say they’re living paycheck to paycheck
They didn't ask, "what percent of your paycheck goes to rent/mortgage?" or "How many weeks of your paycheck do you have in savings/retirement?"
Don't most people live paycheck to paycheck? I pay almost all of my bills on a credit card for the miles, and then i pay bill when i get paid.
10Unless you are saving to something big in the near future it doesn't make sense not to. I have known many peohle to die young. I have known misers who died with millions in the bank. There is no point to money after death (at least not most religions, I cannot comment on yours) earn it, save a little for a rainy day and spend the rest.
2I want to retire. I'm "paycheck to paycheck" but maxing a few retirement accounts. I could easily not work for a year and survive. Depending on how the survey or whatever was phrased, I'd be included in that 58%. I should not be.
3
The article doesn't say, unless I missed it... but isn't that below what it was? I thought it was over 60 not long ago.
10Other sources say 66% right now.
They said 78%, 60%, 55, 63%, or 61% last year.
65% in April and 60% in December.
61% in 2022.
69% in 2020.
78% in 2019.
78% in 2017.
68% in 2012.
72% in 2010.
65% in 2006.
Numbers are all over the place, but 58% looks like almost the lowest reported by any source over the past 10 years or so (from what I could find).
24I probably saw the 2022 figure. Thanks.
6
There is an interesting cognitive dissonance around the economy.
The tone, the memes, the lived experience are all: We're struggling to barely survive. But when this gets brought up in the context of the current administration and their policies its: Its the best economy in a decade.
When you look at polling data, its always the economy at first position in terms of how people are going to vote. I think the current congress and the administration really shot themselves in the foot with the what they approached as priority in current legislation. It was all "might make a difference to peoples lives in 5-10 years" and almost nothing that "makes a difference in peoples lives they can sense right now". Its not like that bigger picture stuff didn't need to be done, but convincing a few wonks on the edges doesn't get you elected to a second term.
Ultimately voting is transactional. If voters vote for you and you don't provide the goods, they'll move on.
5The article is misleadingly framed by implying 58% being historically bad (though they avoid mentioning any historical comparisons in the article to avoid outright lying). Unfortunately 58% is a historically good number for this. It was as high as 78% in 2017. Also check out the very well sourced other comment on this article with this number for many more years. 58% seems historically one of the best results ever recorded.
https://www.cbsnews.com/news/americans-living-paycheck-to-paycheck/
Not that we shouldn't push for it to be even better, 58% is still not a good number in absolute terms in my opinion, but the article is being very misleading when it portrays this as some unheard of worsening catastrophe.
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