this post was submitted on 23 May 2024
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The US economy is experiencing a "selective recession" where lower-income Americans are struggling due to rising costs and dwindling savings, while upper-income consumers remain unaffected. Inflation, although cooling down, has significantly impacted the purchasing power of lower and middle-income individuals. With the pandemic savings having been depleted for most Americans, recession fears are now growing as the job market weakens and interest rates remain high.

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[–] eight@hexbear.net 36 points 5 months ago (2 children)
[–] KurtVonnegut@hexbear.net 21 points 5 months ago (1 children)

I was promised bugs to eat and a pod to live in, yet I have neither. This sucks. Promises not kept!

[–] someone@hexbear.net 3 points 5 months ago

They'll offer a means-tested discount for a certain selection of bugs and pods, subject to clawbacks if the recipient is receiving other benefits or has savings more than $500.

[–] BigBoyKarlLiebknecht@hexbear.net 12 points 5 months ago

biden-fall That’s my American Rescue Plan, mack, I did that