Economists warn Americans should budget an extra $5,200 this year to combat effects of inflation
Bloomberg economists say that Americans should considering budgeting an extra $5,200 this year — or $433 monthly — in order to fight the effects of inflation.
The U.S. Consumer Price Index has indicated that prices across the board have skyrocketed at the fastest pace since 1982.
What are the details?
In a Tuesday report, Bloomberg economists Anna Wong and Andrew Husby warned that inflation is set to cost the average U.S. household at least $5,200 more year over year.
Approximately $2,200 of that inflation tax will come as a result of higher food and energy prices, and inflation is only set to get worse over the next several months.
In the report, the economists said, "Accelerated depletion of savings will increase the urgency for those staying on the sidelines to join the labor force, and the resulting increase in labor supply will likely dampen wage growth."
On Tuesday night, Bloomberg Markets tweeted a graphic illustrating the rising costs, and captioned it, "Inflation will mean the average U.S. household has to spend an extra $5,200 this year compared to last year for the same consumption basket, according to estimates by Bloomberg Economics[.]"
Inflation will mean the average U.S. household has to spend an extra $5,200 this year compared to last year for the same consumption basket, according estimates by Bloomberg Economicshttps://trib.al/jJdXb4F— Bloomberg Markets (@Bloomberg Markets) 1648594867
What else?
A Gallup poll released on Tuesday stated that the share of Americans who rate inflation as the top issue facing the United States is at its highest in nearly 40 years — and has doubled month over month.
Gallup's Lydia Saad wrote, "Inflation began rising as a public concern last fall, after being a nonissue for Americans throughout 2020. It registered no more than 2% of mentions in 2021 until October, when 5% cited it. But the percentage has increased more in the past month — seven percentage points to 17% — than in any month since the upward trend began. This increase in concern comes as the U.S. inflation rate continues to climb, and is now at its highest point in 40 years."
The poll also found that a large share of Americans polled were increasingly pessimistic about the state of the economy, with at least 75% of them admitting they believe economic conditions across the country were only getting worse.
"Americans also have a rather bleak view of current economic conditions, with just 22% considering them excellent or good while 35% term them 'only fair' and 44% poor," Saad added. "The combined only fair/poor percentage has been steady near 80% since November."
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Civilizational collapse: Less than 15% of 30-year-olds are married homeowners
Americans used to settle down and start families in their 20s, but according to a chart that went viral all over social media this past weekend, that’s not even happening once they hit 30.
The chart revealed a steep drop-off from 1990, where it sat around 45%, plummeting to under 15% in 2025.
“This is a loss. ... This is like how ‘WALL-E’ happens. No exaggeration. This is the death of a culture. This is without spiritual revival. You cannot materialistically return from this,” BlazeTV host Steve Deace says, horrified.
“If you’re the Chicoms, you don’t need to risk a nuclear war. Just wait this thing out, man,” he adds.
And Deace has a few theories as to why there has been such a significant decline in married homeowners by the age of 30.
“This is unrecoverable. Percentage of 30-year-olds who are both married and homeowners in the last 75 years. You won’t dig out of that. And there’s all kinds of reasons. There’s economic reasons that are very valid. Cultural reasons that are very valid. Familial reasons — where are the dads that modeled this? Very valid,” Deace says.
“Legacy gone, responsibility gone, the family unit gone. If that is not fixed or course-corrected, I’m just going to tell you right now, your kids and grandkids — and I’m talking about my own — they’re going to live in a communist country and/or need to know Arabic. You are not going to Netflix-and-chill your way past that,” he continues.
“So that graphic right there, my friends,” he adds, “is where the rubber hits the road.”
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