Average American’s Retirement Plan Has Lost $34,000 Under Biden

A new analysis by conservative economists shows the average American has lost $34,000 from their retirement savings plan since President Joe Biden took office.

The news comes as Biden spent time at an ice cream shop over the weekend, munching on a chocolate chip waffle cone and telling reporters that the economy “is strong as hell.”

Economists Stephen Moore and EJ Antoni published their report in the New York Post, warning readers that a peek into their 401(k) plans “will ruin your whole day, week and month.”

Their analysis shows the average retirement plan is down about $34,000, which they note is “more than 25% in less than one year!”

Worse, the purchasing power of those plans has decreased significantly, down another $5,000, due to inflation.

Today’s cover: Average American is losing $34K and everything else on Biden’s watch https://t.co/zooGu77M2N pic.twitter.com/XacZTpypws

— New York Post (@nypost) October 17, 2022

RELATED: Report: Americans’ Retirement Accounts Have Lost Trillions – TRILLIONS – In 2022

Under Biden Your Retirement Plan is Lost

Moore and Antoni argue that under President Biden, lost finances in retirement plans are hurting the little people the most.

Support Conservative Voices! Sign up to receive the latest political news, insight, and commentary delivered directly to your inbox.

“A year ago, the White House insultingly tweeted out that inflation is merely ‘a high-class problem,’” they write. “Wrong.”

“The victims of ever-higher prices at the store and the gas pump are not the millionaires, but the little guys — and, in particular, older Americans — whose paychecks and savings accounts get walloped,” they add. 

To that point, they estimate retirement plans in all have lost $2.1 trillion – that’s trillion with a ‘t’ – while monthly savings have “collapsed” by 83%.

Joe Biden’s big-government inflation is costing families thousands of dollars each year. And in Kansas, Laura Kelly keeps piling on more by:https://t.co/Pnjloew9IW

— Derek Schmidt (@DerekSchmidtKS) October 17, 2022

In summary, the economists state Biden’s inflationary disaster decimating your retirement plan – now over 8% for seven straight months after they told Americans it was “transitory” –  is comparable to theft.

“It’s not exactly the same as a bank robber with a gun stealing a quarter of the money in your bank account,” they surmise. “But at the end of the day, Bidenflation has had the exact same unhappy result.”

This is what happens when you put someone incompetent in charge. https://t.co/evJHnj6jAv via @nypost

— Mr Bill (@MrBill_Runner) October 17, 2022

RELATED: Is Trump A Modern Day Nostradamus? Watch His Prediction Of What Would Happen If Biden Won

Is Biden Worried? Nah

President Biden, also over the weekend, dipped into a Baskin Robbins in Oregon and talked about the booming economy with reporters.

“I’m not concerned about the strength of the dollar, I’m concerned about the rest of the world,” he said.

Of course, as an America last globalist, why wouldn’t he be?

“Our economy is strong as hell,” Biden added, his brain seemingly frozen