"15 Things The American Middle Class Won't Be Able To Afford In 2025"

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Epic Economist, 11/29/24

"15 Things The American Middle Class 

Won't Be Able To Afford In 2025"

"The things we're going to report in this video should serve as a wake-up call for all Americans. Once considered the backbone of the nation and its main engine, the U.S. middle-class is being crushed by the current economy. Not only has the number of middle-class families been shrinking with each passing year, the purchasing power of middle-income Americans has steeply declined since 2022, and experts say it will take several years before wage growth matches the cost of living.

In fact, a new household budget index from Primerica, a financial services company, found that the purchasing power of middle-income households - defined as those earning between $54,000 and $110,000 a year - has declined to 85.6% this year, down from its high of 102.8% in November 2020.

The index's baseline of 100% means that people's incomes are rising at the same pace as consumer goods and services. Any reading under that threshold shows consumers' spending power is at a deficit.

Inflation has been dragging families underwater for two years straight. The latest decline represented six years of gains in purchasing power lost in 24 months, according to Primerica’s data. That coincided with consumer prices soaring by 9.1%, the largest 12-month increase since November 1981. Though inflation has cooled since then, households have yet to fully recover from the blow. "The index is not yet back to 100. And when you get to 100, it simply means that the people have enough earned income in that month to cover their expenses," analysts noted. "But they didn't make up for the lost ground.” Now, many of the aspects of life that middle-income families used to enjoy over the past decades are getting out of reach of today's middle class.

For that reason, we decided to share the latest expert insights about this matter and compile 15 things that middle class Americans will not be able to afford in the year ahead. Without further ado, let's check out this list!"

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