Is Your Personal Financial Situation Worse Now Than It Was a Year Ago?

Is Your Personal Financial Situation Worse Now Than It Was a Year Ago?

Here’s The Scoop

As Americans face the crucial 2024 presidential election, the financial health of the nation and its taxpayers has become a hot-button issue, particularly for those seeking employment. Concerns about the future and the current economic state dominate discussions among voters.

“I just want the younger generations to have a future… that’s what I’m most worried about… just because I feel like America and the world is kind of all on fire,” Rochelle Koperdak from Dayton, Ohio, shared with Fox News Digital.

Lori Willis from Pace, Florida, echoed this sentiment: “How about just focusing on getting jobs done? I’d like to see more of that, more results from their actions. I feel like they all have the power to do what’s right, and I feel like they all have their hands tied by a pack, and that’s really sickening.”

Cheryl Persson of California raised a critical question: “Are [the candidates] going to make my company more politically correct or are they going to increase my company’s functionality?”

In a recent RedBalloon and PublicSq. joint Freedom Economy Index survey, the financial strain on Americans became evident. Out of nearly 100,000 active employees surveyed, seven in 10 reported that their personal financial situation is either “worse” or “much worse” today than a year ago. Koperdak, Willis, and Persson all agree that their financial situation has deteriorated compared to four years ago under Trump.

Koperdak, who works as a civilian program contract manager for the U.S. Air Force, reminisced about the economic stability during Trump’s tenure: “Back then, with Trump in office, I felt a lot more secure. He had the [Tax Cuts and Jobs Act], and that lowered the taxes for both individuals and businesses. That kind of gave everyone more breathing room. Plus, I feel like he focused on deregulation, which helped businesses grow and create more jobs.”

Under the current administration, Koperdak sees a stark contrast: “Now, under the Biden administration, we’re kind of seeing the effects of increased regulation and policies that prioritize government spending over private sector growth. The difference is that economic stability we had under Trump.”

Willis, an interior designer, highlighted her struggle to find steady employment: “I was a full-time employee, a federal contractor to the government. The contract ran out, so now I’ve resorted back to offering interior design services on my own. That has kept me afloat, but I would much rather prefer to have a steady, full-time position with a design company or an architectural firm.”

Persson, a stay-at-home mom and homeschool teacher, expressed her concerns: “My family’s income hasn’t changed, but our comfort level has significantly decreased. Money went a lot further four years ago. We were able to cover our bills and still have money saved. The economy has plummeted with the current administration, and to add to that, where I live in California, the cost of living is much higher.”

Financial pressures from rising grocery costs, healthcare bills, and the housing market weigh heavily on Americans. Willis emphasized the challenges her family faces: “Health care costs [are] probably the most expensive for my family right now. That along with food costs and rising inflation. But my No. 1 ticket issue would be to get the border closed.”

Persson pointed out the bigger issue: “Not being able to purchase a house is a symptom of a bigger issue. It all circles back to economic health. We as a country are economically unwell.”

Koperdak, who owned two homes as rental properties during Trump’s term, shared how inflation has forced her to sell and relocate: “Inflation is just out of control. That’s the only word I have for it. Everything from groceries to gas is more expensive. With the Biden administration cutting fossil fuels, transitioning to green energy very quickly, I feel like we’ve seen higher energy costs which trickle down to everything else in life. So this is my top-ticket issue heading into November. I want a candidate who will bring back the policies that help keep costs down.”

The importance of private-sector job creation policies is critical for these voters. Fox News previously reported that 16% of new jobs created under the Biden administration were government or public sector, while Trump saw a 7.4% government job growth. Economists have debunked the Biden-Harris administration’s claims of a booming post-COVID job market, citing U.S.

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