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Tags: us | economy | inflation | gas | food | prices | biden

Poll: More Than 4 in 10 Americans Say They're Struggling Financially

Poll: More Than 4 in 10 Americans Say They're Struggling Financially
(Dreamstime)

By    |   Tuesday, 05 July 2022 03:42 PM EDT

A new Monmouth University poll reveals the number of Americans who are "financially struggling" has increased by double digits in the past year. 

More than 4 in 10 Americans (42% overall) acknowledge they're struggling to keep afloat, citing the survey.

The poll represents the first time since Monmouth introduced this survey question that the "struggling financially" answer hovered above 30% — with previous ranges in the low-to-high 20s.

At this time last year, only 24% of respondents viewed their financial situation as "struggling."

Among the survey respondents, only 47% characterized their status as financially stable, and 9% said their prospects have improved, compared to last year.

From a U.S. families perspective, the Monmouth survey cited 40-year inflation highs and surging gas prices as the most pressing worries.

Inflation ranked No. 1 by a significant margin (33%), followed by gas prices (15%). The overall economy (9%) and paying bills on time (6%) ranked as the third- and fourth-highest concerns, among families.

Abortion rights earned 5% of the "worries" share, a substantial boost from last year's rate of less than 1%. However, among families, the numbers are still dwarfed by tangible economic concerns, regardless of income, race, and political preferences. 

For example, among those who identify as Democrats, only 9% listed abortion as their greatest family worry.

Also worth noting: This year marks the first time that gas prices have entered the top strata of family concerns.

One year ago, the top-five family issues were the coronavirus pandemic (17%), the overall economy (11%), paying bills (11%), healthcare costs (7%), and job security (7%).

"Economic concerns tend to rise to the top of the list of family concerns, as you might expect, but the singular impact of inflation is really hitting home right now. And most Americans are blaming Washington for their current pain," said Patrick Murray, director of the independent Monmouth University Polling Institute.

Two other notables from the expansive Monmouth survey: Roughly 57% of respondents say that, over the last six months, the actions of the federal government have been detrimental to their family. 

The results also indicate minimal optimism about the future, with just 23% expecting governmental actions to improve their family's well-being over the next few years. 

Earlier Tuesday, Newsmax chronicled another Monmouth poll, stating that President Biden's approval rating had plunged to 36%, the lowest number during his 18 months in office.

© 2022 Newsmax. All rights reserved.


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A new Monmouth University poll reveals the number of Americans who are "financially struggling" has increased by double digits in the past year. 
us, economy, inflation, gas, food, prices, biden
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2022-42-05
Tuesday, 05 July 2022 03:42 PM
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