CBS says economy 'better' than government thought after reporting people need 'extra $11,400' to afford basics

A pair of reports published and aggregated by CBS News offer a positive and negative depiction of the economy as polls continue to show sharp disapproval of President Biden's performance.

The report, based on the findings from Republican members of the U.S. Senate Joint Economic Committee, offered an interactive map of the United States showing which states require more for the same standard of living versus four years ago. While residents of Arkansas have to spend roughly $8,500 more annually, residents in states like Colorado need to spend nearly $15,000. Joseph A. Wulfsohn is a media reporter for Fox News Digital. Story tips can be sent to joseph.wulfsohn@fox.com and on Twitter: @JosephWulfsohn.

"Although inflation is cooling, many consumers may not be feeling much relief because most prices aren't declining… Consumers are still paying more, albeit at a slower pace, on top of the higher prices that were locked in when price hikes surged in 2022 and earlier this year," the report stated.