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Desperate Parents Hit Breaking Point in Biden’s Economy, Fighting to Survive: 'Debilitating'

Frustrated moms are struggling with the economic realities under the Biden administration, expressing their challenges on "Fox & Friends First." Kristina Tullos from Hawaii highlighted the alarming closure of mom-and-pop stores and the need for multiple jobs to make ends meet. Quisha King, a business owner and single parent, compared her better financial situation under Trump to her current struggles, emphasizing the high cost of necessities. Annie Frey echoed these sentiments, blaming Bidenomics for the shrinking middle class. Despite President Biden's assertions of a strong economy, rising inflation and financial hardship persist, with many parents feeling left behind and seeking change in leadership. Read More.

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AARP: Shocking Crisis—20% of Americans Have Zero Retirement Savings

A new AARP survey reveals that one in five adults aged 50 and older have no retirement savings, and more than half are worried about having enough money for retirement. The shaky economy, high prices, and uncertain future exacerbate these concerns. Everyday expenses remain a significant barrier to saving, with many older Americans feeling they may never retire.

The study highlights gender disparities in financial security, with 42% of men rating their financial situation as "fair" or "poor," up from 34% in early 2022. Only 40% of men and 30% of women believe they are saving enough for retirement.

Despite a recent slowdown in inflation, high prices have led to increased debt. The average credit card debt rose to $8,169 in January 2024 from $7,538 in January 2023. Nearly one-third of older adults carry a balance of $10,000 or more.

Economic concerns persist, with 70% of older adults worried about prices rising faster than income and 37% concerned about covering basic expenses. Additionally, 26% worry about caregiving costs, and another 26% expect never to retire.

Access to workplace retirement plans significantly boosts retirement savings, but nearly 57 million people lack such access. Congress is considering legislation to expand retirement security, including the Retirement Savings for Americans Act of 2023 and the Automatic IRA Act of 2024. AARP urges swift congressional action to address the retirement crisis. Read Now.