How Much Extra Cash Americans Need for the Basics

AF Branco /
AF Branco /

If it hasn’t become clear, Bidenomics isn’t working. But just how much extra is it costing you?

Well, to be clear that depends on the state and region you live in, as the cost of living in some areas is higher than others.

However, on average, Americans just trying to make ends meet in 2023 need $11,434 more, according to CBS News. And that’s just to maintain the same standard of living as you had in 2021.

Those in states like Arkansas, where the cost of living is a little less, need about $8,500 extra to make ends meet, while those in Colorado, with a higher-than-average cost of living, need an extra $15,000.

Of course, the White House says that inflation is dropping, albeit slowly, and that the economy is making a comeback. But for most Americans, merely covering the basics is a weekly struggle.

Polling also shows that the majority of Americans are now living paycheck to paycheck.

Things like gas to get to and from work, eggs, and don’t even get me started on rent, are through the roof, leaving many making some pretty difficult choices.

Now, to be sure, most companies and employers are trying to give out comparable wage increases to match the rise in the cost of living. But it’s nearly impossible for some because, as with individuals, they too are feeling the strain on Bidenomics.

As CBS reported, “average hourly pay for workers has increased (a) robust 13.6% since January 2021, although that lags the 17% increase in inflation during the same period, according to government data.”

Of course, that is the average. Many haven’t seen pay increases at all. Some have even seen pay cuts or hours diminished as employers struggle to keep profits up and the doors open. Benefits are also being cut.

Needless to say, the American Dream is dying, or at least being put on the back burner. Instead of dreaming of bigger and better things, as the American Dream embodies, we are simply surviving, simply trying to maintain our most basic needs.

A report from Republican members of the Senate Joint Economic Committee says that over 80 cents of every dollar is being spent on necessities alone. You know, things like food, housing, and transportation, and energy.

Gone are the days when people could afford to buy new vehicles, go on family vacations, or even save for their future.

Meanwhile, illegal immigrants are getting their everything paid for by the Biden White House. Millions are being sent overseas to warring nations like Ukraine, China, and Iran. And Congress is still spending far too much on things that don’t even matter.

As I said before, Bidenomics isn’t working. It’s only making things worse.

No wonder Biden is losing nationwide to former President Donald Trump and in key battleground states. The White House can say it’s just a messaging problem all they want. But the truth of the matter is it’s a policy problem.

Simply put, Bidenomics has failed.