American Workers Suffering Under Biden
If you thought the pandemic was responsible for millions of Americans struggling to make ends meet, think again!
It has now been revealed that American workers are now taking home less money than they did before the pandemic because of inflation!
According to the Washington Examiner, even though employers spent 4 percent more on wages and benefits last year, it still wasn’t enough to match the inflation rate. This means that most workers’ money isn’t enough to match inflation.
Former President Barack Obama’s Council of Economic Advisers Chairman Jason Furman shared the information on Twitter and President Biden is probably not happy about that.
Furman explained that real compensation and wages have been on the decline.
Inflation has been rising even more rapidly so real compensation and wages have been falling since mid-2020 and are now lower than they were prior to the pandemic and well below their pre-pandemic trend. pic.twitter.com/uwlPaVNrqv
— Jason Furman (@jasonfurman) January 28, 2022
Republican Rep. Kevin Brady didn’t take kindly to this new discover and slammed Biden.
“Just one year of President Biden’s bungled economy has wiped away three years of Americans’ wage gains, with inflation growing at the fastest pace since 1982,” Brady stated. “The threat of crippling tax hikes and more runaway spending only worsens our labor shortage, supply chain crisis, and inflation.”