AP-NORC poll: Many in US shoring up finances amid downturn

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A new AP-NORC poll shows that despite widespread job losses and business closures, many Americans have shored up their finances by saving more money and paying down debt during the pandemic.

has forced the government to take on debt, rather than investing in infrastructure and scientific research that could help growth long-term.

About a quarter of Americans say they’ve been unable to pay at least one bill because of the pandemic, including 14% who’ve been unable to make a rent or mortgage payment, 14% who have been unable to pay a credit card bill and 21% who have been unable to pay another type of bill. Seventeen percent have been unable to pay multiple types of bills.About half of Black Americans and roughly 4 in 10 Hispanic Americans say they’ve been unable to pay a bill, compared with about 2 in 10 white Americans.

People in households that have lost income, including a layoff, are about as likely as those who have not to say they’ve been spending less, saving more and paying down debt, though they are also more likely to say they’ve been unable to pay at least one type of bill. Those who say they’ve spent less during the pandemic are much more likely than those who have not to say they’re putting more into savings and paying down debt faster than usual .

 

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This is Trump propaganda. Next story will be that people who have a broken leg find that they run faster on just one.

You mean they took a little off the table for the fed to throw it back onto the table for them to take it for another time

Not really. With the uncertainty of what disaster tomorrow may bring under the Trump Administration, people aren't rushing out to buy sh*t that they don't need only to find businesses have shut down anyways.

lol.. this poll is a joke and shame on you for passing it as something credible

✋🏼I’m among them

When one can’t go anywhere and spend any money, one has money left to pay bills. 🤔

UBI

Virtually everyone I know has taken beach vacations and bought new cars in the last few months. No saving around here.

Welcome to the club.

I used much of the extra $600 a week to pay off my credit cards and my car. Hence, my credit has improved so much I will be able to buy a house and start a business when all this is over.

PPP loans are just ending. Prepare for fall lay offs

Makes sense... when you’re not trying to keep up with Jones’ vacations and trips, you can actually save money...

Yup. I’m sure insulated job holders can take advantage of lower rates and pay down debt / save more. Saving money is not going to help our commerce driven economy and will make recovery harder. Until the pandemic is controlled , many are going to avoid big purchases

Thanks, Pelosi!

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