The White House has excitedly pointed out that gas prices on the 4th of July are the lowest they’ve been since 2019.
It only took draining the national oil reserve.
While prices might be temporarily lower for the holiday, the American public can see what’s going on, and they’re not happy about it. Newsweek writes that the sad state of Bidenomics has left many Americans in a financial pinch this holiday, leading to fewer taking vacations.
Forty-four percent of respondents to a survey conducted by Redfield & Wilton Strategies on behalf of Newsweek between June 27 and 28 said they won’t be traveling anywhere in the next three months, with a majority of 53 percent saying they would have gone on vacation had the cost of living been cheaper. The survey was run among 2,500 eligible U.S. voters.
Among those who said they intend to travel abroad (17 percent), domestically (29 percent) or both (10 percent), a majority of 64 percent said their plans had been affected by the high cost of living. Fifty-five percent said that they’re now traveling to a cheaper destination than they would have otherwise visited; 45 percent said they’re using a cheaper way of transportation; 30 percent said they’re staying in cheaper accommodation.
“Life has gotten a lot more expensive in recent years, which is why so many people are struggling to afford vacations,” Ted Rossman, senior industry analyst at Bankrate, told Newsweek.
“For example, a collection of common household expenses costs about 20 percent more now than it did in early 2022,” he said. “With so many people spending so much more for housing, food, gas and other essentials, there’s less money to go around for other things such as travel.
“Higher interest rates have crippled American buying power. Rossman told the magazine that roughly half of credit card holders carrying debt frpay an average rate of 20.71 percent, which nears a record high set a few months ago.
“Credit card debt is easy to get into and hard to get out of,” he said
Americans trust Trump to handle the economy and inflation, which continue to be the most important issues for the voting public.
The Hill reported that a recent “poll found that economy and inflation were among the top issues for Americans in this upcoming presidential election, with more Americans saying they trust Trump on the issues than Biden. Eighty-eight percent of Americans in the survey said the economy was important when deciding whom to vote for, and 85 percent said the same for inflation.
Forty-six percent of surveyed Americans said they trust Trump on the economy, while 32 percent said the same of Biden. Another 21 percent said they trusted neither of the presidential front-runners on the issue.
Forty-four percent of surveyed Americans also said they trusted Trump to handle inflation, compared to the 30 percent who responded the same for Biden. Another 25 percent said they trusted neither candidate on the issue.
The poll also found that more respondents said they are not as well off financially since Biden took office than those who said they are better off under Biden. Forty-three percent of those surveyed said their financial situation is not as well off since Biden became president, 40 percent said they are about the same and 16 percent said they are better off.”
