Joe Biden’s disastrous economic policies have caused Americans to lose $4,200 in income so far this year, according to a report.
The income loss comes in the form of the extremely high costs of living thanks to Bidenflation, according to analysis by the Heritage Foundation.
As the costs of everyday items such as gas, food, and lodging soar, Americans continue to lose money to pay for these items just to keep their families moving.
Per the New York Post:
Their analysis found that the average American has lost about $3,000 in annual purchasing power because consumer prices, which have risen 12.7% since January 2021, have spiked significantly faster than wages.
Wages have risen just 8% over the same period, which has effectively resulted in a pay cut for Americans struggling to pay for daily necessities including food, gas and rent.
Higher interest rates and borrowing costs have also reduced the average person’s purchasing power by another $1,200, according to the report.
“Simply put, working Americans are $4,200 poorer today than when Biden took office,” said EJ Antoni, a research fellow in regional economics with the Heritage Foundation’s Center for Data Analysis.
“This financial catastrophe for American families is the direct result of a president and Congress addicted to spending our money, combined with a Federal Reserve compliantly enabling this addiction by printing more dollars.”
The report also noted that under Trump, the average family’s income increased by $4,000.
Vote accordingly in Nov., America.
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