Numerous surveys in recent days point to growing economic anxiety among Americans, and they all cite the same problem: the higher costs of everyday living.
Americans ranked food costs as their biggest worry, with retirement savings and healthcare costs rounding out the top three concerns in a Quinnipiac University poll released Thursday. More than six in 10 Americans said they are cutting back on everything from dining out to home improvement projects.
Economic uncertainty is getting so bad that more Americans told Fox News pollsters that they’d rather stash a $10,000 windfall under their mattresses than invest it in the stock market. Gas prices have fallen 2% from February 2022 to last month, and the cost of televisions is down 14.8%, according to the Bureau of Labor Statistics. But the cost of tools and outdoor equipment is up 11.8%, paper products are up 10.8% and pet food is up 15%.
About half of U.S. adults in households earning less than $60,000 annually and about 4 in 10 of those in households earning $60,000 to $100,000 say they’re very stressed by their personal finances, according to The Associated Press-NORC Center for Public Affairs Research.
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