Jaws hit the floor at the White House on Tuesday when Joe Biden had the audacity to claim in a prepared statement that “since I took office… more Americans feel financially comfortable.”
It seems Biden has forgotten about the record high inflation, record increased household debt levels and widespread economic gloom, energy shortages, unprecedented supply chain issues, and the recession stalking the country in the wake of Democratic policies.
BYPASS THE CENSORS
Sign up to get unfiltered news delivered straight to your inbox.
You can unsubscribe any time. By subscribing you agree to our Terms of Use
Biden was delivering a speech on the May jobs report where he further claimed that families have less debt and that their savings are up. Critics point out that nothing Biden said has any basis in reality.
According to CNBC American consumers ended last year with an accumulative 15.6 trillion dollars of debt, which they described as a “record-breaking increase.” In today’s remarks, Biden did not clarify the metric he used to qualify his claim.
Per Post Millennial: In March of last year, Biden passed his American Rescue Plan which was a 1.9 trillion dollar stimulus package that continued payments directly to American families. Economic Impact Payments of $1,400 went to individuals, $2,800 for married couples, and $1,400 each dependent.
The bill also extended unemployment benefits, continued the eviction moratorium, and dispensed cash in a variety of other ways to state and local governments.
Despite the White House blaming Putin for current record inflation, the 2021 Stimulus was responsible for overheating the American economy and causing record inflation. When too much money chases a scarcity of goods it devalues the dollar, rendering the value of savings significantly less.
As Fortune reports, Americans’ savings rate has actually hit recession-era lows.
Biden said, “A recent survey from the Federal Reserve found that more Americans feel financially comfortable than at any time since the survey began in 2013.” The survey in reference is the Survey of Consumer Finances where families volunteer for two hours or more of questioning. The survey is conducted every three years from a random sampling of anywhere between 4500 and 6500 families.
In the real world, Biden is facing anger and frustration as Americans are struggling with historic inflation, its effect on the economy, and a possible recession.
Baxter Dmitry
Email: baxter@thepeoplesvoice.tv
Latest posts by Baxter Dmitry (see all)
- Frasier Star Kelsey Grammer Reveals He Is Not Allowed To Speak About Supporting Trump - December 5, 2023
- NATO Chief Warns The West To Prepare For ‘Bad News’ About Reality in Ukraine - December 5, 2023
- Roseanne Barr Drops Truth Bomb: ‘Psychopath Elite Are Depopulating The World Using Vaccines’ - December 5, 2023
His groups of associates definitely will be feeling stuffed with dirty money.
WTF marica is he living in south way way deep south park marica?
I bet he isn`t riding the train to work anymore
OML! what a liar. a cooke.
Felons in penitentiary feel no food insecurity, no insecurity over health care and with no financial responsibilities? They feel financially secure.
Well if things get ReAL BaD than we all may have to enlist and take back the pennys for ourselfs FOOD and water over freedom FOOD always wins
I need the free dental..
50 years of nothing but lies!
ALL the UFO`s are leaving NOW full of our LOOTED money go on than now LOW joe your one toke over the line
I do not think any of China Joe’s caregivers are telling what is going on around the country.
Hard to quantify who feels more economically comfortable with Biden in the White House. Surely, some people do.
With no hard evidence, here is my guess on the types of people who feel more economically comfortable:
*People who don’t drive, or have anyone in their family who drives a car
*People who don’t go to the supermarket, or have anyone in their family who goes to the supermarket.
*People who were not in comas when Trump was President, and are now in comas, with Biden in office.