An affordability crisis has been crippling the United States economy. Polling has shown that food prices are universally creating an overwhelming financial stress, burdening households.
This financial distress is not limited to the U.S. Canada is also experiencing the pain of rising prices and the sting of “going without.”
According to an Abacus Data poll, 67 percent of Canadians say the cost of living in their area is the worst it has ever been. Another 21 percent report it is bad, although they recall more challenging times. Only 11 percent believe it is not a significant issue. David Coletto, CEO of Abacus Data, noted this intensity surpasses feelings in the U.S., where a recent poll found 46 percent of Americans say costs are the most challenging they’ve experienced. “This is not a marginal concern or a background anxiety,” Coletto stated. “It is a dominant lived experience.”
A whopping 62 percent of Canadians polled said that the cost of living is one of their top three issues of concern. “Food prices are the most universal and emotionally resonant cost because they are unavoidable and visible every week,” Coletto explained.
Housing costs are also a major concern, especially for younger people. It is becoming increasingly difficult to make ends meet, as wages have not even come close to keeping up with inflation.
The U.S. currently has no plans to deal with inflation and the affordability crisis, other than terrible ideas and scapegoating. The ruling class in the U.S. floated the idea of fifty-year mortgages, but anyone who thought that was a good idea doesn’t understand how math works.
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Ruling classes are continually and increasingly trapping regular people into the doom loop of debt just so they can live. “You will own nothing and be happy” is just around the corner.
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Unfortunately, Americans are carrying record amounts of debt right now. For many, it’s becoming impossible to keep up and pay down their balance. Total household debt reached $18.39 trillion in the second quarter of 2025, with credit card balances alone topping $1.21 trillion. Average interest rates on those balances are now over 21%, making the payments hard to sustain for many borrowers. When you add in rising costs for everyday essentials, it’s clear why more people are falling behind or defaulting on their debt.
This is not the American dream people were promised. Many are having to determine whether they can afford rent or groceries after making the payments on their debt. The ruling class is using higher interest rates and inflation to price people out of home ownership and a financially stable life. The real question is, what can we do about it?
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