[jandrewrogers]

Yet the Federal Reserve study whence the "$400 emergency expense" claim was sourced states that 75% of adults are doing okay financially or living comfortably. The question about a $400 expense was about how people would pay for an unexpected $400 expense, not if they could pay for it. Only 12% could not pay for a $400 expense. The news media always tries to paint a dire narrative.

Per the US government, the median household in the US has $1000/month left over after all ordinary expenses. At the 78%, this is around $3500/month. As this strongly suggests, the statistics you are referring to do not actually assert what is often claimed of them. The underlying studies paint a more consistent, and less dire, picture.