President Joe Biden’s economic policies, or “Bidenomics,” have been a primary campaign platform. But now they could be bringing him some unanticipated issues.
A startling new survey claims that the number of homeless people in America has risen to a record high with a startling 12% increase.
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According to the Department of Housing and Urban Development’s most recent snapshot report, over 650,000 people become homeless in a single night.
Take pleasure in a spectacular rise of 12 percent, smashing all prior records set since the release of this ground-breaking study in 2007. In 2022, exciting growth is in store!
“Homelessness should not exist in the United States,” Marcia Fudge, the secretary of HUD, stated on X, previously Twitter.
“The data released today underscores the urgent need for support for proven solutions and strategies that help people quickly exit homelessness and that prevent homelessness in the first place,” she said.
Asian Americans, who make up 40% of the homeless population, are the group most affected. Hispanics comprise 33% and Black Americans, with 37%, are not far behind.
“The most significant causes are the shortage of affordable homes and the high cost of housing that have left many Americans living paycheck to paycheck and one crisis away from homelessness,” According to U.S. Interagency Council on Homelessness Executive Director Jeff Olivet.
The report’s findings indicate that the states with the largest percentage of homeless individuals are California, New York, Washington, and Florida.
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According to The Washington Post, the yearly one-night count of homeless people only represents a small portion of the actual population, making it unreliable as a census. This is a troubling revelation. The National Coalition for the Homeless’s executive director, Donald Whitehead, highlights this idea.
“You want to think of this as useful and a report that drives action,” To The Washington Post, he said. “It is a way to plan, it’s a way to look at trends.”
The covid-era funding from the American Rescue Plan Act resulted in “significant innovations,” such lodging in hotels and converting temporary locations into permanent homes. One of the reviewers of the HUD study, Whitehead, claimed that these funds had a crucial role in bringing about these modifications.
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People are having to tighten their belts this Christmas because of bidenomics. A lot of people are working extra hours or taking on second jobs during the holidays in order to make ends meet.
According to Empower’s 2023 holiday expenditure study, 74% of respondents said that they had cut their Christmas spending because of inflation. Furthermore, according to 31% of respondents, they are putting in more hours at work in order to close the cost gap.
“The survey shows that over a third (34%) are trimming their budgets in favor of saving this year, while others are cutting back on buying gifts or non-essential expenses like dining out to stay on track,” Courtney Burrell, a spokesman for Empower, stated to Fox Business.
“How you allocate your holiday budget will depend on what’s most important to you – this year, you may prioritize travel to visit family that you typically only see during the holidays over decorations or cut back on social commitments in order to give yourself a larger budget for holiday gifts,” she said.
“Thirty-seven percent of respondents said they plan to spend less than $250 on gifts this year, and more than one in 10 told Empower they are budgeting more than $1,000,” the report said.
Thanksgiving weekend sales are expected to surge, and overall holiday spending is predicted to smash all previous records, continuing the record-breaking Christmas shopping season.
“However, the spending spree comes as U.S. consumers are already carrying record levels of credit card debt, and some experts are concerned a potential crisis is brewing as the balances rack up, and more people find themselves unable to pay them back – especially at today’s high interest rates,” Fox Business said.
