Ouch. This one hurts. According to a study by the Heritage Foundation the average American has lost 4.2K in income since Biden took office. The loss is due to several factors. Here’s a snippet from the report:  ‘Consumer prices have risen 12.7% since January 2021, significantly faster than wages, so that the average American worker has lost $3,000 in annual purchasing power. Further, as the Federal Reserve implements tighter monetary policy to reduce inflation, interest rates are rising. Higher rates have in turn increased borrowing costs on mortgages, vehicle loans, credit cards, and more. The higher interest rates and borrowing costs have effectively reduced the average American’s purchasing power another $1,200 on an annualized basis.’

But don’t flip out. Wages are up 8%, right? Yeah, but consumer prices are up over 12% so, that just sucks. So, here’s what I wanna know: Who is better off? Who is doing well under these Biden policies? Not us. Seems like the only people thriving are politicians and ‘build back better’ people scoring some sweet government contract money. How’s that going by the way? Haven’t seen a lot of things getting built back better and now we’re all out over 4 grand. Ouch.

https://nypost.com/2022/09/23/americans-have-lost-4-2k-in-income-under-biden-report/