Are you better off now than you were two years ago? That’s the question that political candidates often ask audiences. It was unique when politicians first started doing it, but now it’s cliche.
At the beginning of the 2016 election, President Donald Trump promised that Americans would get so tired of winning from his policies. But are Americans sick and tired of winning? Well, they have to win first to feel that way, and the results of a recent study show they are still struggling.
According to a new Bankrate.com report, more than 60 percent of Americans revealed that they are not better off financially than they were two years ago. The three main demographics to show zero progress? Retirees, women, and low-income earners.
Here are the key findings:
– 78 percent of Americans earning $30,000 a year or less say their finances have not improved; 27 percent say they feel worse off.
– 76 percent of Americans 65 and older reported their finances have not gotten better since 2016.
– 67 percent of female Americans note they have not benefited from the Trump economy.
While the media will blame the president for this, we have often seen the same kind of numbers over the years, whether the country was headed by Presidents George W. Bush or Barack Obama.
“We know there’s a disconnect between the broad economic metrics we’ve seen day-to-day and the lived personal experience,” said Bankrate’s senior economic analyst Mark Hamrick. “There’s still more work to be done to improve Americans’ financial condition.”
Perhaps this could change if President Trump and the GOP pass tax cuts for middle-income households after the midterm elections.
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