Report: 45.5% of US Households Can't Afford Basics

A new Brookings Institution report reveals that 45.5% of U.S. households could not afford necessities in 2024, with a $1,000 cost increase pushing 3 million more to the edge.

- Wages rose only 1.3% in 2024, below inflation of 2.9%. - Over 50% of families in New York state struggled, while D.C.

saw racial disparities. - Food insecurity has reached levels not seen since 2020.

- Income growth is unequal, with higher earners seeing 6% raises vs. 1% for lower earners.

The report highlights the gap between rising costs and stagnant wages, calling for structural solutions to housing, healthcare, and childcare costs.