Is your family in a financial death spiral?

Recently on one of the Financial TV shows, one of their “talking heads” stated that the USA is not using the same basket of goods to calculate our COLA/CPI as was used during the Jimmy Carter presidency. He stated that if we currently use the same basket  of goods as during the Carter Admin the peak increase in the CPI to 8.5% in March of 2022, would have been ~ 17%.  

If you wish to use this comparison chart, you will have to go to this hyperlink to get it to make it function.  The data is based on USDA data.

It is claimed that 60%+ of households are living paycheck to paycheck and the typical family cannot afford an unexpected $500 bill, and the total consumer debt on credit cards has passed ONE TRILLION DOLLARS for the first time. Some credit card companies are charging interest rates upwards of 30%. It seems that all too many families are in a financial death spiral.

One Response

  1. We are,,financially were screw’d,,pay-check to paycheck,,when 11 years ago,,mortgage paid off,,no bills except medical,,then disaster,,house fire,, coninual medical bills, etc,,and everything is soooo expensive,,,we’ll never get ahead anymore w/these prices,,,ever,,,it SUCKS,,,, jmo,,maryw

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