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US Sees Highest Ever Increase in Poverty
(consortiumnews.com)
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this post was submitted on 25 Sep 2023
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Nailed it. I’m doing better than I ever have, and I think I should dump more into my 401k! Nope. Groceries feel like they’ve almost doubled in cost. Fucking unbundling of so much , data, or travel costs an arm and a leg in additional fees. Simple repairs to my car or parts for a mower are crazy expensive. As soon as I feel like I’ve gotten ahead, they jack up the prices to eat up my gains.
Is the cost of living crisis that crazy?
I left the US in 2017 tired of a decade of stagnant wages.
Of course in 2018 the wages started spiking. But is all of it eaten by cost of living increases?
Yes. A congressional report found that nearly 50% of inflation went straight into corporate coffers. Record profits across the board. They turned the dial up until our wage gains were all gone.