U.S. finance update: California stimulus, rising inflation, tax refunds…

ByRichard C. Sloan

Apr 13, 2022

Many people in the United States face tight finances at the moment, with the rise in inflation, increase in gas prices, tax bills and much more causing headaches for many citizens.

In the United States, various states have sought to introduce programs that support their citizens, while the federal government has also set itself the goal of establishing far-reaching programs.

As the world tries to get back to normal after the worst of the COVID-19 pandemic, there are still millions of people who have been worse off as a result of what happened over the past two last years. In particular, those who have been most affected are low- and middle-income individuals and families.

The days of stimulus checks from the federal government are over, which means there is a bit of uncertainty on the part of some parts of society about how to handle their finances.

Additionally, Russia’s decision to invade Ukraine has thrown another wrench in the works of the United States’ financial recovery as it appears to emerge from the COVID-19 pandemic. The impact of the war has already been noticed at gas pumps, as well as in supermarkets with items containing corn and wheat, as prices have risen to levels not seen in decades.

According to Oxfam, some 860 million people around the world live in “extreme poverty”, and in the United States in particular, they point out that the poorest fifth of families must spend an average of 27% of their income on food, which is a very different reality than the wealthiest families in America, who spend an average of five percent of their income on food.

In our live blog this Wednesday, April 13, we’ll bring you the latest news and financial updates in the USA.