What's more, for most Americans, household debt is rising or not going away. About half say they currently have credit card debt, 4 in 10 are dealing with auto loans, and about one in four have medical debtAbout 2 in 3 Americans say their household expenses have risen over the last year, but only about 1 in 4 say their income has increased in the same period, according to a new poll from The Associated Press-NORC Center for Public Affairs Research.
Tracy Gonzales, 36, who works as a sub-contractor in construction in San Antonio, Texas, has several thousand dollars of medical debt from an emergency room visit for what she thought was a bad headache but turned out to be a tooth infection. Relatively few Americans say they’re very or extremely confident that they could pay an unexpected medical expense or have enough money for retirement . Only about one-third are extremely or very confident their current financial situation will allow them to keep up with expenses, though an additional 42% say they’re somewhat confident.
Will Clouse, 77, of Westlake, Ohio, said inflation is his biggest concern, as he lives on a fixed income in his retirement. Geri Putnam, 85, of Thomson, Georgia, said she's been following the ongoing auto workers strikes with sympathy for the workers' asks. About three-quarters of Americans describe the nation’s economy as poor, which is in line with measurements from early last year.
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