State of the Union: Americans Remain Throttled by Inflation, High on Drugs and Low on Life

Less than one month after President Joe Biden proclaimed the state of the union triumphantly resilient, American workers remain throttled by inflation, high on drugs, and low on life. In other words, the state of the union is an expensive, drug-addicted nation in decline.

According to findings from a new Salary Finance survey reported by CNBC Wednesday, 1 in 5 workers is running out of money between paychecks. Estimates from Bloomberg Economics predict U.S. households will spend another $5,200, or $433 a month, for the same basket of goods as last year.

“The excess savings built up over the pandemic, and increases in wages, will cushion those costs, and allow spending to expand at a decent pace this year,” Bloomberg reported. “But accelerated depletion of savings will increase the urgency for those staying on the sidelines to join the labor force, and the resulting increase in labor supply will likely dampen wage growth.”