A majority of Americans say their income is not matching pace with inflation, a new survey found.
According to the CBS News/YouGov poll released Thursday, 77 percent of respondents say their income is not keeping up with inflation. Just 23 percent say it is.
Sixty percent of Americans who make under $50,000 say their financial situation is bad. That number decreases for each income bracket, with just 15 percent of people who make more than $100,000 annually who say their situation is poor.
The survey noted that Americans’ personal financial outlook drives their larger views on many other things, including the broader economy.
President Trump campaigned on inflation and the economy, it was a top issue that propelled him to victory in last November’s election.
While inflation has risen since he’s taken office, he’s sought to distance himself from the issue and argue he has “nothing to do” with the uptick, blaming former President Biden.
According to the survey, 34 percent of respondents are optimistic about the economy over the next year and believe it will grow or boom. Twenty-two percent say it will hold steady, while 21 percent say it will slow.
Twenty-three percent of Americans say they think the U.S. economy will plunge into a recession.
Respondents tend to say they are concerned about paying for housing costs, food and groceries, paying debts and saving money.
Sixty percent currently say the U.S. economy is bad, up 2 percentage points from this time last year under Biden’s administration.
The CBS/YouGov survey was conducted among 2,340 adults between Feb. 24-26 and has a margin of error of 2.3 percentage points.
