U.S. families are facing mounting financial pressure as the cost of living continues to rise, forcing many to take on debt, skip meals or delay medical care, according to recent surveys.
A poll released last week by the Century Foundation found that 60 percent of the 2,007 respondents blamed the Biden administration for driving up expenses. More than half also cited billionaires, corporations and congressional Republicans as contributing to their financial hardship.
To cope, Americans are increasingly relying on risky financial strategies. The survey showed that 42 percent had dipped into savings over the past year, while 37 percent used credit cards to cover basic needs.
The findings underscore growing economic anxiety despite a strong labor market. Many households report that wages have not kept pace with inflation, particularly in food, housing and healthcare.
The survey also revealed that some families are skipping meals or forgoing medical treatment to make ends meet — a sign of deepening distress across income levels.