Americans have lost $4.2K in income under
Biden, study says
New York Post,
by
Desheania Andrews
&
Emily Crane
Original Article
Posted By: Black Conservative Voice,
9/24/2022 6:49:38 AM
The average American has lost $4,200 in annual income since President Biden took office — entirely wiping out gains made under the Trump administration, an analysis from the Heritage Foundation shows.
The losses come down to surging inflation and higher interest rates, experts at the conservative think tank said in a Thursday report.
Reply 1 - Posted by:
FJB 2022 23 24 9/24/2022 7:09:16 AM (No. 1286298)
He is devastating many people who have worked so hard to be able to just get by, responsibly pay their bills and for God's sake just buy groceries. The SOB could care less and I am sick and tired of his saying the economy is fine. It is NOT fine you, dumba**, people are suffering and some of us will never be able to regain what we have lost because of you. I hope you rot in h*ll and the sooner the better! FJB
13 people like this.
Reply 2 - Posted by:
downnout 9/24/2022 8:40:03 AM (No. 1286358)
It’s a lot more than $4200.
7 people like this.
Reply 3 - Posted by:
bpl40 9/24/2022 8:41:08 AM (No. 1286359)
That lower income is facing higher prices. So it is far worse for ordinary citizens. I cannot for the life of me see how an ordinary voter can justify voting Democrat this November. But sadly, many will.
2 people like this.
Reply 4 - Posted by:
Nimby 9/24/2022 8:46:36 AM (No. 1286369)
How about 401K losses? That is probably 420K
7 people like this.
Reply 5 - Posted by:
zephyrgirl 9/24/2022 9:16:01 AM (No. 1286402)
What about their savings????
3 people like this.
Reply 6 - Posted by:
MDConservative 9/24/2022 9:30:49 AM (No. 1286422)
FTA: "Higher interest rates and borrowing costs have also reduced the average person’s purchasing power by another $1,200."
Really? This is classic thinking. Borrowing money is a discretionary act, whether it be for a house, car or credit card stuff. Americans love to buy on credit, floating the debt by paying the interest, leveraging their meager funds to buy $50,000 pickups or $400,000 homes/condos. If one doesn't buy on credit, one doesn't pay interest or borrowing costs. Everyone wants to live cheaply and well on "other peoples' money", aka credit.
There are alternatives to buying on credit...like saving for the purchase. The problem there is that inflation significantly reduces the value of cash. We will be entering deflationary times as market correction takes place. Many won't like it, demanding government "do something", like reinstate easy (freshly printed) money and add more to the mix with tax cuts and such. What was that called, a Potemkin economy? Let's cheapen the dollar some more, that muscular store of value. Soon enough, everyone will be a millionaire...like Weimar.
2 people like this.
Reply 7 - Posted by:
Mofongo 9/24/2022 9:53:32 AM (No. 1286451)
Not to mention several years of life. He stole the election, and now he’s taking everything else of value.
1 person likes this.
Reply 8 - Posted by:
mifla 9/24/2022 11:02:04 AM (No. 1286550)
And every time he spends a few billion dollars, the treasure runs off a few more sheets of $100 bills and our savings are devalued.
Like others have pointed out, he doesn't care. He has his China millions.
1 person likes this.
Reply 9 - Posted by:
DVC 9/24/2022 11:43:45 AM (No. 1286599)
And more inflation to come. Until they free up the normal energy sources from their iron strangulation grip, prices for everything will continue to climb.
Our natural gas rate has doubled, a look at the gas company's web site shows, from about $5 per unit, to $10 per unit. Our heating bill will be double what it was last year. And food, and gasoline, and ........EVERYTHING.
2 people like this.
Reply 10 - Posted by:
chance_232 9/24/2022 11:56:37 AM (No. 1286609)
My 401K has lost over a third of its value. I'm hopeful that it will recover in the next 6 years or I can cancel retirement.
2 people like this.
Reply 11 - Posted by:
JHHolliday 9/24/2022 9:37:38 PM (No. 1286912)
Mine too, #10. I am also retired and it’s what we are living on (barely). We are being crushed between the market collapse and rampant inflation. Hopefully, Brandon (or more likely “Doctor” Jill ) will try to prop him up so she can continue being FLOTUS. I don’t think he will make it that far but nobody that the Dem Communist Party would be any better. Watch for a tearful declination to run again for “health” reasons with the fawning media extolling his “brave” decision. At least that would be a legitimate reason for the puppet to step away.
1 person likes this.
Reply 12 - Posted by:
franq 9/25/2022 8:08:45 AM (No. 1287128)
Another trip to the grocery store, similar to what I posted before. Bakery - loaf of bread that was routinely 99 cents, now over 3 dollars.
0 people like this.
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I would say a lot more than that... Biden voters can’t name a single thing going well in the country right now.