EVERYTHING IS GOING SWIMMINGLY: Difficulty Paying Bills Tops Pandemic High in US Census Survey.

Plus: Around half of older Americans can’t afford essential expenses: report.

And: More Signs Emerge That Inflation Is Altering Shopping Habits.

Also: The Upper Middle Class is Getting Squeezed. “While poorer families might feel the effects of inflation more deeply, they also have had the biggest wage increases and have the smallest share of their net wealth invested in financial markets. The richest families, meanwhile, have been hurt by market losses but have been insulated from the worst of inflation. Goods that have had the sharpest price jumps, such as gasoline, automobiles and home utilities, account for a relatively small percentage of their spending. Over the first three months of 2022, upper-middle-class families lost a bigger chunk of their stock portfolios than the people who make more than them, according to the Federal Reserve. Since the pandemic started, they saved less than most of the people who make less than them, according to Moody’s Analytics.”

Given the extent to which the Democrats rely on upper middle class voters, this is likely to be especially concerning.

UPDATE: From the comments: “We can’t all buy into chip manufacturers the day before our spouse votes to subsidize the company at taxpayer expense.”