Americans feel the pinch of soaring expenses as income stalls

A majority of Americans find themselves on a financial tightrope, revealing their expenses outpace income growth.

A recent Associated Press poll involving 1,163 adults saw two-thirds of the participants report a surge in their household expenses over the last year, while only a quarter saw an income increase over the same time.

The cost of everyday essentials like groceries has risen, leaving many struggling to make ends meet.

The survey also sheds light on the mounting household debt, with 8 in 10 Americans feeling the pinch.

Astonishingly, consumer spending remains resilient despite inflation and federal rate hikes.

Concerns about retirement, medical bills, and unforeseen expenses are widespread, painting a complex economic landscape.