Inflation soared 7.8% from 2021 to 2022, marking the largest single-year increase in cost of living since 1981.
Despite the Biden administration’s efforts to tout the alleged successes of “Bidenomics,” a report from the United States Census Bureau has revealed that many Americans saw their economic situation deteriorate dramatically in the first half of Biden’s term.
While the official poverty rate hovered around 11.5% in both 2021 and 2022, according to the report, the Supplemental Poverty Measure (SPM) increased 4.6% in 2022 to reach 12.4%, marking the first overall increase in that metric since 2010. In total, 37.9 million Americans lived in poverty in 2022. The report partially attributed the increase to the expiration of tax credits credits and pandemic stimulus payments.
Income, meanwhile, dropped across an array of metrics. Real median household income declined by 2.3% from $76,330 to $74,580, while real median earnings of all workers dropped 2.2%. The drop was less severe among full-time, year-round workers, who saw a 1.3% decline. Inflation soared 7.8% from 2021 to 2022, marking the largest single-year increase in cost of living since 1981.
The Census Bureau statement follows some other bad economic news for the president. The unemployment rate in August rose from 3.5% to 3.8% while inflation ticked up to 3.2%, marking the first increase after a consistent, year-long decline.
Everything that geriatric pediphile touches turns to $4!T…
EVERYTHING has Doubled & Far More in PRICE thanks to Dirty BIDEN !!!!
Even Water !!!!! Gas should be under $2.00 Gal / Electric Bills need to be Cut in HALF /
FOOD !!!!!
No PAY has Doubled though !!!!
Even this article is a line of bs.
My income has dropped 45%.
The cost of many goods has doubled, including gas.
Interest rates are up 600%
And the greed in housing is disgusting.
Anyone quoting low and single digit increases is simply a liar and using skewed government data.
Our wallets know the truth.
Need a NEW Hire & FIRE DEPT that Can FIRE ANYBODY Elected or Not & REMOVE on the SPOT !!!! SOLVED
Biden :
Stopped Pipelines & Drilling
Gave Billions to IRAN $$$$$
Left Americans Behind in Afganistan
Caused ALL the inflation in America
Stole & Gave Away Trillions of our Taxpayer Money
Stole Top Secret Docs & stored by the corvette in his garage
Left Open Border & Allowed Illegals to STAY & Steal our Benefits
The puny ass COLA raise that social security gives to us poor old people is sire not enough to keep up with Bidenomics. Our insurance is constantly going up along with everything else. We are starving. Try to get any help? They tell you how well off you are and don;t need any help. Yeah right!!