As bad as the Biden-flation of 2022 has been, many experts believe that next year is going to be even worse, and that has led to something else for Americans to deal with.
"I think what all this negative talk that we're hearing right now about the economy, on top of the past 2 1/2 years of unprecedented experiences" said Sarah Foster, analyst with Bankrate.com, "For a lot of Americans, this has really resulted in something called recession fatigue."
A new survey conducted by Bankrate found that 69% of Americans are worried about the recession in 2023, that's not really a surprise. What is a surprise, is that 31% of Americans say they are not prepared for a recession, and they are not doing anything to be prepared.
"It's basically, the hits to the hits to Americans wallets just keep on coming" Foster told KTRH, "And feeling the motivation to prepare for tough economic events like saving, or cutting back on spending, it's really hard to do that when we've had to do it for the past two and a half years."
The 'recession fatigue' was highest with young people, specifically Gen Z (ages 18-25).
As for how to handle it, Foster says she completely understands why people feel the way they do, resigned to the tough economic times that we have been subjected to. But the economy is expected to get worse before it gets better, so we need to prepare. Have fun in moderation, but put a little aside for an emergency.
That leads to the poll question this morning.