Former White House communications director and SkyBridge Capital founder Anthony Scaramucci is sounding the alarm on what he described as a widening gap between financial reality and “basic stability” in the United States.
No ‘Breathing Room’ For Most Americans
On Tuesday, in a post on X, Scaramucci highlighted the financial tightrope that most Americans are forced to walk every day, saying that it takes an income of $131,000 just to “live with some breathing room” in the country, which he said includes “a house, basic stability, no constant financial panic.”
At the same time, he said that the “median income is around $84,000,” leaving a significant chunk of the population regularly dealing with financial anxieties.
According to Scaramucci, this gap “isn’t abstract,” but a reality that plays out through “missed doctor visits” and “delayed prescriptions,” to “cracked teeth” and “busted cars,” as families are busy “juggling bills instead of living.”
He concluded his post by asking, “Is this how we want people to live in the richest nation on earth?”
Millions Living On ‘Financial Edge’ In K-Shaped Economy
Several other leading economists have expressed similar concerns in recent months, with Moody’s Analytics Chief Economist, Mark Zandi, warning that millions of Americans were “already living on the financial edge.”
He called this “fodder for a recession” in America’s deepening K-shaped economy, where the affluent pull ahead, while everyone else treads water.
Economist Paul Krugman placed the blame squarely on President Donald Trump, saying that the United States has traded an inclusive, pro-worker recovery under Former President Joe Biden for a “Trump freeze,” where the working class falls further behind.
Policymakers, including the Federal Reserve, have begun questioning the sustainability of this dynamic, as lower-income households increasingly rely on credit to cover essentials.
Fed Chair Jerome Powell said recently, “Most of the consumption does happen by people who have more means, so it’s a good question how sustainable that is.”
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