No. of Recommendations: 11
From The Financial Times:
"Scraping for crumbs: Americans squeezed by affordability crisis." (Or as Fox News would say, "Prosperity!")
"An affordability crisis is sweeping the US, as higher prices of food, rents and healthcare force lower-income Americans to cut back on necessities just as the Trump administration curbs government supports."
"Resentment is building over the yawning wealth gap, as rising prices disproportionately hit lower-income Americans at a time when richer neighbors enjoy a housing and stock market boom."
"We see a lot of people who have been evicted because they couldn’t pay their rent, because they had a car accident and then couldn’t pay their medical bills.
I think that’s the sort of homelessness that we’ll start to see a lot more of."
"Many low-income Americans are under severe strain. There’s a bottom dropping out that I hadn’t, even as recently as last year."
"Food costs are another issue. Trump says he has driven down prices. But the data does not show this.
Nationally, grocery costs keep rising, according to the Bureau of Labor Statistics. Beef alone is up 14 per cent compared to last year."
"The enactment of Trump’s sweeping spending bill means that, from next year, new work requirements will restrict the number of people eligible for Snap and Medicaid, healthcare for low-income Americans.
Healthcare costs have already surged — and are set to rise further for low-income Americans unless Republicans agree to extend tax credits provided by the Affordable Care Act, or Obamacare.
They are due to expire at year-end."
Did I mention that tariffs are regressive taxes: they disproportionately punish lower-income Americans, raising the cost of living for those least able to absorb it.
"The Point is you can't be too greedy!" ~Donald Trump, from "The Art of the Deal"
https://www.ft.com/content/cfa60ea1-9a38-433c-a4cd... 