"Parents Struggle Financially in 2023 Amid Rising Inflation and Child Care Costs"
TL;DR Summary
A Federal Reserve survey reveals a significant decline in financial well-being among parents with young children, dropping from 69% in 2022 to 64% in 2023, the lowest since 2015. The expiration of the expanded child tax credit and reduced support for child care centers are major factors, leading to increased financial strain, food hardship, and poverty. Inflation remains a top concern, with 35% of respondents citing it as a major issue. Despite President Biden's efforts to address inflation, more voters trust Donald Trump to handle the issue.
- Parents with young kids reported financial well-being drop-off in 2023 as inflation concerns rose NBC News
- Child care costs, groceries stretching parents thin financially NBC Montana
- Rent Is Harder to Handle and Inflation Is a Burden, a Fed Financial Survey Finds The New York Times
- Parents feel financially squeezed, citing high prices as top worry NPR
- Fed study offers new clues that help explain America's gloomy mood Yahoo Finance
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