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"Paycheck-to-paycheck" and five other popular myths

Being educated and reading a lot on the internet is no proof against myth-conceptions.

Although I do think that Democrats should focus on pocketbook issues, it must also be said that Bernie Sanders’ favorite economic factoid is a complete and total myth. One common measure of financial resiliency is whether people have savings sufficient to cover three months of expenses if they lost their primary source of income. Meanwhile, the extremely careful and detailed Survey of Consumer Finances, which comes out every three years, finds that in 2022, the median amount of money that Americans had in their checking accounts was around $8000.

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