Americans Losing How Much Yearly Under Biden?
This is how much you are losing.
Since President Biden took office, Americans have astoundingly lost more than $4,000 in yearly income thanks to soaring inflation. What’s worse is that these soaring inflation rates have officially wiped out all gains made by former President Donald Trump when was in office.
According to Fox, a new analysis by the Heritage Foundation has found that since January 20th, 2021, Americans have lost an estimated $4,200 in income.
Furthermore, due to the tightening down of the Federal Reserve borrowing costs have spiked on mortgages, vehicle loans and credit cards.
The Heritage Foundation’s EJ Antoni explained, “Simply put, working Americans are $4,200 poorer today than when Biden took office. 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 average household in America has lost about $7,200 as well.
“Washington recklessly spent trillions of dollars it did not have and paid for it with newly printed money, causing rampant inflation that has destroyed people’s purchasing power and jeopardized Americans’ financial futures,” Antoni added.
