Recent research by the Ludwig Institute for Shared Economic Prosperity reveals that the cost associated with leading a 'dignified life' in the United States has doubled since 2001. This increasing unaffordability primarily affects the bottom 60% of American households, with minimal quality of life pegged at $100,000 for a household of three. Factors cited include stagnation of wages, decreased spending power, and rising costs in essentials such as child care, education, and basic entertainment, highlighting the changing economic landscape and challenges in achieving the American Dream.
The minimal quality of life has doubled since 2001, with 2023 seeing the largest single-year increase, making it increasingly difficult for many American households.
According to researchers, stagnating wages, decreases in workers' spending power, and soaring prices contribute significantly to the growing unaffordability of a dignified life.
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