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(Harris, 59, is herself among the youngest baby boomers, born in 1964, the last year that’s considered part of the generation.) Smith and her husband have struggled to stretch their monthly Social Security income of around $4,000 as their costs have increased. The average Social Security check was around $2,000 at the start of the year and adjusts annually for inflation. About half of Social Security recipients make enough income to have their benefits taxed, according to the Social Security Administration. Polls show a tightening race between Trump and Harris among seniors, with Harris appearing to pick up support compared to Biden.

Persons: Teresa Smith, Smith, Donald Trump, Joe Biden, Kamala Harris, she’s, “, he’d, “ He’s, Harris, that’s, Mitt Romney, Barack Obama, ”, Bob Ward, Fabrizio Ward, Biden, hasn’t, ” Trump, Medicare —, Walz, Seth Schuster, Trump, Phil Martin, Martin, Pam, “ Trump’s, Denise Meyer, ” Meyer, Kamala, Gary Schlossberg, Dick Edgecombe, Edgecombe, we’re, Gary Allen, Allen, Kristen Soltis Anderson Organizations: White House, Democratic, Trump, Republicans, Biden, AARP, Social Security, Social, Social Security Administration, Medicare, Pew Research Center, NBC, FedEx, Wells, Investment Institute, Republican, “ Locations: Georgia, North Carolina, Charlotte, Wells Fargo, “, Pennsylvania, Pittsburgh, ”, Michigan

Today, it is just over $3,000,” said Harris, who also serves as chair of the National Association of Home Builders. Vice President Kamala Harris has proposed offering $25,000 in down payment assistance to first-time homebuyers and incentives to homebuilders to construct more housing for first-time homebuyers. Former President Donald Trump has said he would lower housing costs by opening federal land to development, rolling back regulations and reducing overall inflation. But homebuilders say they face a web of challenges that have been nearly two decades in the making and will likely take years to resolve. One major barrier to driving down prices and increasing supply has been a shortage of workers, homebuilders said.

Persons: Carl Harris, ”, Harris, — he’s, Mike Forsum, Freddie Mac, Kamala Harris, Donald Trump, “, Robert Dietz, It’s, Dietz, Sheryl Palmer, homebuilder Taylor Morrison, homebuilders, we’ve, Palmer, Forsum, “ I’m, Homebuilders, Taylor Morrison, They’ve, that’s, ” Harris, “ It’s Organizations: National Association of Home Builders, Landsea, Bureau of Labor Statistics Locations: Wichita , Kansas, Atlanta, Las Vegas, Raleigh , North Carolina, Dallas, ”, Sacramento , California, Texas, Fort Worth , Texas, Phoenix, Buckeye, Orlando , Florida, In Wichita

Condo owners unable to pay an assessment can be foreclosed on by their condo association. After that, she plans to move back into her Florida condo, but in the meantime, she’s been living with her adult son. But that’s what happens when prior boards don’t do their job.”But the decision ended up pitting the building’s owners against each other, with some owners saying the work was unnecessary. “These guys ruined my early retirement plan.”Lopez, who helped craft the legislation, said she is looking for ways to provide relief to condo owners once Florida’s Legislature reconvenes next year. Stone would like to see the state Legislature give buildings and condo owners more time to comply with the regulations so they would be able to spread out the costs.

Persons: Janet Stone, she’s, ’ ”, Stone, We’ve, ”, Vicki Lopez, “, —, Greg Batista, he’s, reapplied, ” Stone, Krista Goodrich, they’ve, Batista, Joseph Hernandez, Edgardo Defortuna, ” Defortuna, Jeremy Maurice, Maurice, ” Maurice, Steve Davis, Cristian Murray, ” Murray, ” Lopez, reconvenes, “ I’m, I’m Organizations: Florida House, NBC, Yacht, Surfside, Condo, realtors, Statewide, Dade, University of Miami Locations: Florida’s, Las Vegas, Ormond Beach , Florida, Florida, Champlain, Miami, ”, Daytona Beach, Orlando, Miami Beach, Hollywood , Florida, Ormond Beach, Redfin, Volusia County, South, Dade County

Nancy Breland, 72, Georgia Retired and taking care of her husband, Breland has seen rising prices for everything from groceries and utilities to insurance and home maintenance eat into her fixed income. She has also seen her friends struggle with inflation, as well, through the church she volunteers at. At 72, Breland has been doing much of the upkeep around her home after her husband fell ill several years ago. Fixed income is very hard when inflation is so high.”Primary source of income: Combined, Breland and her husband have around $7,600 in monthly income from their retirement accounts and pension and Social Security payments. While Social Security checks have increased relative to inflation, other sources of income for retirees, like pension payments and retirement savings accounts, haven’t necessarily kept up for many.

Persons: Nancy Breland, Breland, ”, “, I’m, What’s, I’ve, it’s, ” What’s, “ I’m Organizations: NBC, Social, Social Security, Insurance, Facebook Locations: Georgia, landscapers, Brunswick , Georgia, Montana

Lucy Haverfield, 71, Florida With her retirement savings drained, she's living on $2,400 a month in Social Security. “Not even remotely like that.”Primary source of income: Widowed and with her retirement savings drained, Haverfield lives on $2,400 a month in Social Security benefits, totaling $28,800 a year. Living situation: Haverfield owns her home in Alva, a small community about 20 miles inland from Fort Myers, with mortgage payments of $1,500 a month. “That’s my economy.”Before she retired about a decade ago to care for her ailing husband, Haverfield taught at a community college and worked in a variety of senior-level telecommunication roles in South Florida. Sometimes Haverfield skips paying one of her bills to cover food and gas, only to pay a late fee the next month, she said.

Persons: Lucy Haverfield, hasn’t, ”, Haverfield, “, Lucy, I’m, haven’t, she’d, “ It’s Organizations: NBC, Social Security, AARP Locations: Florida, Alva , Florida, Alva, Fort Myers, South Florida, Fla

Stefanie Longenecker, 43, Palmyra, Pa. Has stayed out of the workforce because of high cost of child care. But she has been sidelined from the workforce by a child care system that has grown inaccessible for many families. Longenecker, 43, left her job as a hospital pathologist during the pandemic to care for her young children amid repeated day care and school closings. “I’m incredibly lucky to be able to spend this time with my kids, even recognizing the shortcomings.”The child care crunch has put a growing squeeze on families since the pandemic, when more than 100,000 workers left the industry and more than 16,000 child care centers permanently closed. Since then, child care costs have risen more than 30%, and households with child care expenses have been spending at a slower pace and dipping into savings at a faster rate than the general population, according to a Bank of America analysis of its customers’ spending.

Persons: Stefanie Longenecker, ” Longenecker, “ that’s, Longenecker, that’s, she’s, Longenecker’s, Davidson, ”, “, haven’t, We’re Organizations: NBC, “, Bank of America, Stanford University Locations: Palmyra, Pa, Palmyra , Pennsylvania, Harrisburg, Lebanon County

☆ Are you better off than you were four years ago? It can be a murky picture for many
▼ + stars: | 2024-06-25 | by ( Shannon Pettypiece | ) www.cnbc.com time to read: +9 min

But retirees and full-time caregivers have been unable to take advantage of a strong job market. Now, consumers are largely left with the same buying power they had four years ago rather than having seen real income gains over that time that would have helped bolster their financial picture. The outlook for the job market also varies by race with the unemployment rate at 5.6% for Black workers and 5% for Hispanic workers. Food prices have risen around 25% over the past four years while Biden was in office. The rise in food prices has disproportionately impacted lower-income households, which spend around a third of their discretionary income on food, according to a 2022 Agriculture Department survey.

Persons: Joseph Prezioso, Joe Biden, Donald Trump, Ronald Reagan, Julia Pollak, Pollak, Joseph Davis, Biden, MAGA, Julian Assange, Trump, Davis Organizations: Gloucester High School, AFP, Getty, Homeowners, ZipRecruiter, NBC, Consumer, Vanguard, NBC News, Food, Bureau of Labor statistics, Agriculture, Federal Reserve, Walmart, Aldi, Target, Gas Locations: Gloucester , Massachusetts, U.S, Arizona, Nebraska , Colorado

☆ Biden's semiconductor push has states jockeying for federal cash
▼ + stars: | 2023-01-29 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +10 min

The prospect of that much cash has sparked a scramble among states to pitch themselves as the best place to spark a semiconductor boom. In anticipation of the federal funds, semiconductor companies have already been making billions of dollars in commitments. President Joe Biden arrives for a ceremony at the groundbreaking of the new Intel semiconductor manufacturing facility near New Albany, Ohio, on Sept. 9, 2022. The Taiwan Semiconductor Manufacturing Co. facility under construction in Phoenix, on Dec. 6, 2022. But scaling up a U.S. semiconductor industry in a matter of years rather than decades is rife with challenges, said industry leaders.

☆ Debt ceiling fight threatens to deepen divide between GOP and corporate America
▼ + stars: | 2023-01-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +6 min

WASHINGTON — Corporate America’s warnings of a financial catastrophe if Congress fails to raise the debt ceiling are falling on deaf ears among key congressional Republicans who find themselves increasingly at odds with the party's longtime allies. Republicans, who for decades closely aligned with the business community, have largely downplayed the alarm bells sounded by business groups, corporate CEOs and Wall Street investors over the economic consequences of missing an early June deadline for action on Capitol Hill. Instead, many GOP lawmakers vow to seek spending cuts in exchange for passing legislation that would let the U.S. government keep paying its bills. “The business groups and the major economic agents in this country are still going to be very influential by once again reminding Congress about the severe consequences the U.S. will face if the debt ceiling is not raised,” said the political consultant with corporate clients involved in the debt ceiling debate. “I think a lot of Republicans in the House, in the Senate, will understand that.

WASHINGTON — Renters are on track to get some relief in 2023 as a growing number of indicators suggest the red-hot rental market has started to cool, a shift that could also help bring down decades-high inflation that has been pushing interest rates higher. That shift is good news not only for renters, but for the economy as a whole. “The balance of power in the rental market has really shifted very rapidly to renters,” said Jay Parsons, chief economist for real estate technology firm RealPage. The market has really changed materially.”In the last several months of 2022, online real estate firms Zillow, Redfin and Apartment List recorded significant drops in rental asking prices. “We saw the year-over-year growth in our rent index peak last February, and it’s been decelerating ever since then,” Tucker said.

☆ China’s Covid wave threatens another snarl of U.S. medical supply chain
▼ + stars: | 2023-01-08 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +8 min

“We’re looking a lot for potential early warning signs in the medical supply chain for any kinds of disruptions,” said an administration official. “One major concern throughout the entire pandemic has been that because of China’s zero Covid policy, shutdowns greatly reduced manufacturing capacity in China. Despite efforts over the past two years by the Biden administration to bolster the country’s domestic medical supply chain, the complexity, costs and regulations involved in health care manufacturing has limited companies’ ability to shift production. I think that would be a natural response,” said Douglas Kent, executive vice president of corporate and strategic alliances at the Association for Supply Chain Management. Health care officials say they hope that the U.S. is in a better place to withstand any shocks from China.

☆ Inflation struggles, China's Covid: What to watch for in the economy in 2023
▼ + stars: | 2022-12-31 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +8 min

But economists and CEOs warn the economy will remain on shaky ground in 2023, which could mean another turbulent year for consumers. After months of strict lockdowns that caused rolling disruptions to supply chains and greatly stifled demand from Chinese consumers, China began lifting its Covid restrictions in recent weeks. “The most important thing for 2023 is by far China’s Covid policy,” Dan Klein, the head of energy pathways at S&P Global Commodity Insights. Covid infections have continued to shut down factories around the world, aggravated by China’s loosening of Covid restrictions. In the meantime, with demand outstripping supply, car prices are up by nearly 24% over the past two years.

The Postal Service expects all priority mail packages shipped by Dec. 19 and express packages shipped by Dec. 23 to arrive at their destinations by Christmas. “The Postal Service has shown an inclination to do whatever it takes to avoid the nightmare that they had in 2020. “I am deeply concerned about the severe delays and interruptions in postal service experienced by Montanans,” Daines said in a statement. Earlier this year, Congress appropriated $107 million to the Postal Service to fund a systemwide overhaul to modernize equipment and facilities. “We expect a very successful 2022 peak holiday season,” said Albert Ruiz, a Postal Service spokesperson.

☆ Car repossessions are on the rise in warning sign for the economy
▼ + stars: | 2022-12-17 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +8 min

WASHINGTON — A growing number of consumers are falling behind on their car payments, a trend financial analysts fear will continue, in a sign of the strain soaring car prices and prolonged inflation are having on household budgets. The percentage of auto loans that were 30 days delinquent was at 2.2% in the third quarter compared with 2.35% delinquent over the same period in 2019, according to data from Experian. By contrast, just over 4% of auto loans went into default in 2009. Another risk to car buyers’ finances is the growing length of auto loans, many of which now exceed seven years. It can also mean higher interest costs over the life of the loan on top of already inflated vehicle prices.

☆ White House announces steps to counter winter wave of Covid infections
▼ + stars: | 2022-12-15 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +3 min

WASHINGTON — White House officials on Thursday announced steps to provide more Covid testing, vaccinations and supplies as case numbers tick up in another winter wave of coronavirus infections. The Biden administration says it will offer more free at-home Covid tests, boost efforts to vaccinate nursing home residents and prepare supplies that can be sent to states in need. Starting Thursday, the White House will make another round of free Covid tests available by allowing households to order up to four at-home tests from Covidtest.gov. The administration official said the White House expects infections to continue to rise as more people gather indoors for holiday celebrations in the coming weeks. The senior administration official said the administration has distributed 6 million courses of Paxlovid to local communities and indicated that it is confident there will be enough supply to meet demand.

☆ Business groups optimistic Congress may finally strike immigration deal
▼ + stars: | 2022-12-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +7 min

WASHINGTON — Some of the largest business groups in Washington are making a last-ditch effort to get Congress to pass immigration legislation before the end of the year and are optimistic a bipartisan agreement could fall into place. Kyrsten Sinema, I-Ariz., and Thom Tillis, R-N.C., began circulating the contours of a possible deal. Businesses have been calling on Congress to change the immigration system and make it easier for them to hire foreign workers for years, but the situation has grown increasingly dire since the pandemic. We hope it can be successful.”Republicans who have been involved in past efforts to change immigration laws poured cold water on the Sinema-Tillis push. I appreciate them working on it — there’s a deal to be done down the road — but it’s not money, it’s policy.”

☆ Democrats detail effects of early pandemic failures in new Senate report
▼ + stars: | 2022-12-08 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +6 min

The 242-page report, written by Democrats on the panel, cited long-term weaknesses in the country’s public health infrastructure, from staffing shortages and inadequate disease surveillance to poor testing systems. But the report indicated that the pandemic shortcomings extended beyond the Trump administration. Similarly, a DHS report said 96% of pharmacy owners and managers were already reporting a shortage of surgical masks, according to the report. It issued a variety of recommendations, including increasing funding to improve public health surveillance, data systems, health care surge capacity, domestic manufacturing capabilities and stockpiles of critical supplies. "This is not the first public health crisis that our nation has faced, and sadly, it won't be the last," Peters said.

☆ Biden rallies lawmakers to act to avert rail strike ahead of looming deadline
▼ + stars: | 2022-11-29 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +5 min

There are several steps Congress has the authority to take to prevent a rail strike, something it has done 18 times since the 1960s. It could extend the so-called cooling off period, giving the parties more time to try to reach a voluntary agreement before workers can strike. Pelosi said the House would vote this week on the legislation Biden is calling for, which wouldn’t make any changes to the current agreement. But it could also provide an opportunity for Democrats to step in and give additional benefits to the rail workers, like paid sick days, though that would likely make it more difficult to garner Republican support. "The president says he is going to ask Congress to act, and I would expect Congress to support that request,” he said.

☆ Cooling job market doesn't take the heat off the holiday hiring spree
▼ + stars: | 2022-11-25 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +7 min

Retailers are entering the holiday season amid a swirl of mixed economic signals. That leaves companies expecting another busy shopping season as they continue to grapple with a competitive job market. Before the holiday hiring rush, retailers were already looking to fill 800,000 open positions, according to the retail federation. There are some signs though that the labor market is starting to shift in employers' favor. "This speed is imperative during holiday hiring," John Patterson, Macy’s vice president of talent, said in an email.

☆ Home heating costs are on the rise but government assistance is running short
▼ + stars: | 2022-11-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +9 min

But temperatures are already dropping and the number of households seeking assistance is already on the rise, according to interviews with more than a half dozen officials involved in programs that provide heating assistance. Kelly said the Salvation Army in Massachusetts has received twice as many applications as it did this time last year for its winter heating assistance program, which is aimed at those whose incomes are too high to qualify for federal assistance. The cost of heating oil has been a particular concern for the Biden administration, said the government official. Heating oil and diesel inventories are at their lowest levels on record for this time of year. The administration is also prepared to tap into the Northeast Home Heating Oil Reserve, which has about 1 million barrels of heating oil, if necessary, the administration officials said.

☆ Republicans pitched an economic solution. Now they'll have to deliver.
▼ + stars: | 2022-11-19 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +6 min

While Republicans sought to seize on that economic anxiety during the campaign, most candidates provided few specifics. “The GOP still doesn’t know what its economic policy is in a post-Trump world,” said Brian Riedl, who worked for six years as chief economist for Republican Sen. Biden said he has no plans to change his approach to the economy, despite voters’ sentiments, making a shift toward a compromise with Republicans on economic policy seemingly unlikely. “That means there will be a lot less economic policy. “Republicans are going to need to deliver on the economy, especially if the economy is worsening and inflation is worsening,” said Riedl.

☆ White House buoyed by early midterm results as Biden avoids fate of his predecessors
▼ + stars: | 2022-11-09 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +4 min

MILWAUKEE — President Joe Biden appears to have pulled off something few of his recent predecessors managed — a midterm election that wasn’t a clear shellacking for his party, providing a sense of vindication for the White House. Biden's losses are likely to tally far fewer than President Barack Obama suffered in 2010 or President Donald Trump in 2018. The president spent election night at the White House watching returns with top advisers and family and making calls to Democrats who won their races. For many voters, Biden appeared to play little role in their decision. That compares to 2018 when only a third of voters said Trump was not a factor in their House vote.

☆ Evictions are piling up across the U.S. as Covid-era protections end and rents climb
▼ + stars: | 2022-11-05 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +10 min

Still, rents nationwide were up 9% in September, compared to a year earlier, and more than a dozen cities had double-digit rent increases, it said. In Phoenix, for example, rent increases have slowed in recent months, but in June were up 24% year over year, with a median asking rent of $2,261. In Maricopa County, which includes Phoenix, evictions are at their highest levels since at least 2016, with more than 45,000 filings this year. Zenovia Johnson is one of those Phoenix renters who’s been struggling to stay in her home because of rising rents. In Minneapolis, where rent increases have trended below the national average, evictions in September were 37% above their historical averages after shooting up in June, when the state lifted its eviction moratorium.

☆ Biden to give prime-time speech on threats to democracy in final midterms push
▼ + stars: | 2022-11-02 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +2 min

WASHINGTON — President Joe Biden is set to deliver remarks Wednesday night on the importance of protecting democracy and the threat posed by election deniers as part of his final pitch to voters heading into midterms next week. Biden has repeatedly accused Republican supporters of former President Donald Trump of promoting "extremism." “He’ll be making the speech from Capitol Hill, and why will he be making the speech on Capitol Hill? In his remarks, Biden will also emphasize that it may take several days for all the votes to be counted in some key swing states, said O’Malley Dillon. In 2020, election deniers used that lagging in time needed to hand count absentee ballots to make false accusations against election officials.

☆ Democrats struggle with message on inflation in final midterm push
▼ + stars: | 2022-10-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +10 min

“What is our message about why inflation is going to be worse if Republicans win?” Rep. Ro Khanna, D-Calif., told NBC News in an interview. Even as President Joe Biden and some candidates sharpen their focus on inflation, many Democrats are worried it may be coming too late. “Ads for both parties discussed inflation during the early summer, but since then, pro-Democratic ads have avoided mentions of inflation while pro-Republican ads have increased their discussion of inflation,” the researchers wrote. Economic issues are hitting voters particularly hard in states where Democrats’ control of the Senate hangs in the balance, including Arizona, Georgia and Nevada. In campaign appearances and ads, she’s frequently attempted to explain to voters that the Inflation Reduction Act will lower costs for voters.

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