Say, have you noticed how expensive things have gotten at the grocery store lately? I bet you have. Unless, of course, you are one of those incredibly intelligent people who has moved off the grid and has become totally self-sufficient, which is a brilliant idea. Then, of course, you probably don’t really keep up with the disaster that is Bidenomics, which is essentially slapping every American citizen right in the mouth on a daily basis. Lucky you.
Due to skyrocketing inflation — Thanks, Mr. President — millions of folks all over the nation are now being forced to live paycheck-to-paycheck when at one time in the not-so-distant past. Back when I was a kid, it was well within the reach of the average American to work hard and ascend to the so-called “American Dream,” but these days, well, it’s nigh unto impossible.
Been to San Francisco and New York lately? Homelessness in these areas and even in rural areas is going off the charts. The streets are covered in human feces. The basics of living a middle-class lifestyle are now out of reach. And all we normal folk want is to see things go back to normal. But is that something that’s even possible at this point? Not if our nation’s leaders continue down the current path they are on.
A new report was just released that says if a family desires to live the “American Dream” you have to make more than $100,000 a year. And this is across all 50 states. In 29 states it takes over $150,000 a year…
A household would have to spend more than $150,000 a year to live the dream in 29 of the 50 states, according to an analysis published in April by the personal finance site GOBankingRates.
According to the report, the optimal American lifestyle would cost $137,842 a year in Ohio, $147,535 in Texas, $159,932 in Florida, $194,067 in New York and $245,723 in California.
Illinois came in 26th place on the list. Here’s a small sample of it so you can see for yourself how bad things are getting:
- Median home price: $255,278
- Annual childcare costs: $24,174
- Annual
- mortgage costs: $21,401
- Car costs: $8,709
- Grocery costs: $8,143
- Healthcare costs: $7,021
- Utilities costs: $5,278
- Education costs: $2,475
- Pet costs: $1,170
- Total annual costs: $78,369
- Full cost of the American Dream: $156,739
So how close to this mark did you and your family get last year? Yeah, I fell short of the mark too. Here’ have a sip of my Peto Bismal.
Just last December, the folks of Investopedia reported that finished by saying it takes 3.4 million dollars to live the “American Dream” for a lifetime:
Another report, released in December by the financial media site Investopedia, estimates what the American Dream costs across an entire lifetime: $3.4 million.
That is a staggering sum, Investopedia observes, considering what the average American earns in a lifetime: about $2.3 million.
One of the main reasons the American Dream is so out of reach for most folks in our country is due to the cost of housing:
The median sale price for an existing home rose more than 40% between early 2020 and mid-2022, topping out at a seasonal peak just over $400,000, according to the National Association of Realtors.
Mortgages have also skyrocketed:
Mortgage rates climbed again this week, exacerbating the home affordability crisis that is stifling the housing market.
Freddie Mac’s latest Primary
Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage jumped to 7.22% this week from 7.17% last week. The average rate on a 30-year loan was 6.39% a year ago.
The monthly payment on a 30 year fixed mortgage at a rate of 7.2 percent for a home priced at $400,000 would be close to $2,715 dollars. I mean, dang. No normal, regular person can afford a house payment in that range.
Due to all the economic chaos, people have totally lost faith in Joe Biden and his economic policies:
In a Gallup poll published on Monday, only 38% of Americans said they still had confidence in Biden to lead the country and do the right thing for America’s economy. This figure is among the lowest Gallup has measured for any president since George W. Bush took office in 2001, Gallup reported.
“With Americans less optimistic about the state of the U.S. economy than they have been in recent months and concern about inflation persisting, their confidence in President Joe Biden to recommend or do the right thing for the economy is among the lowest Gallup has measured for any president since 2001,” Gallup reported.
The current low for Biden continues a substantial fall from when he first took office. As recently as 2022, the same poll found Biden’s confidence ratings were at 57%. It swiftly fell to 40% and has remained below that mark since.
I think this means we’re going to be having a vicious election season as so much is at stake. One thing is for sure, if we don’t get rid of Biden in November, we’re in big trouble.
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