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Armageddon: After 18 Months of Joe Biden’s Economy, More Than 90% Of Rural America’s Income Is Being Used Just to Survive

by Not The Bee
July 26, 2022
in All Around the Web, News
Armageddon: After 18 months of Joe Biden's economy, more than 90% of rural America's income is being used just to survive

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Around the Web – Original Source: notthebee.com

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It’s hard to believe this figure is accurate. But it is: Inflation in big cities is crushing residents right now, but it’s even worse in rural America, a new study found.

“Rural households are more vulnerable to inflation,” a report from Iowa State University shows. “In 2020, rural household post-tax incomes stood at $58,012. About 82% of rural incomes went towards expenses, leaving $10,661 in discretionary income for savings and unanticipated expenses.”

However, by 2022 expenses rose by 18.5% overall. Earnings were not able to keep pace with inflation, rising by only 6.1%. The net effect cut rural discretionary incomes by […]

Around the Web – Original Source: notthebee.com


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