{"id":2007268,"date":"2023-08-21T17:20:02","date_gmt":"2023-08-21T21:20:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-fail-americans-increasingly-forced-to-dip-into-retirement-accounts-to-make-ends-meet-major-bank-reveals\/"},"modified":"2023-08-21T17:21:31","modified_gmt":"2023-08-21T21:21:31","slug":"bidenomics-fail-americans-increasingly-forced-to-dip-into-retirement-accounts-to-make-ends-meet-major-bank-reveals","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-fail-americans-increasingly-forced-to-dip-into-retirement-accounts-to-make-ends-meet-major-bank-reveals\/","title":{"rendered":"Major Bank Reveals: Americans Resort to Retirement Funds as Bidenomics Falters"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidenomics-fail-americans-increasingly-forced-to-dip-into-retirement-accounts-to-make-ends-meet-major-bank-reveals%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2007268&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>More Americans are Tapping into Retirement Accounts to Make Ends Meet, Major Bank Reveals<\/h2>\n<p>As President\u200b Joe Biden and Democrats continue to portray the economy as healthy, a new report claims that more Americans are resorting to tapping into their\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-reasons-making-taxpayers-pay-off-student-loans-is-a-rotten-idea\/\" title=\"5 Reasons Making Taxpayers Pay Off Student Loans Is A Rotten Idea\">retirement accounts<\/a> to get by.<\/p>\n<p>A look through <a href=\"https:\/\/www.westernjournal.com\/twitter-note-appears-photo-biden-sunbathing-beach-not-corpse\/\" target=\"_blank\" rel=\"noopener\">Biden&#8217;s \u2062Twitter<\/a> account reveals numerous but unspecific claims about an economic turnaround \u200bfollowing two years of skyrocketing prices.<\/p>\n<p>In February, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/successful-failure-biden-takes-credit-blames-trump-for-afghanistan\/\" title=\"Successful Failure: Biden Takes Credit, Blames Trump for Afghanistan\">president bragged<\/a> \u2062about a &#8220;record-breaking economy&#8221; and plentiful jobs.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Our economic plan is breaking records. <a href=\"https:\/\/t.co\/5YvftWL6yV\">pic.twitter.com\/5YvftWL6yV<\/a><\/p>\n<p>\u2014\u2064 President Biden (@POTUS) <a href=\"https:\/\/twitter.com\/POTUS\/status\/1622965916282793984?\">February 7, 2023<\/a><\/p>\n<\/blockquote>\n<p>Last week, Biden or whoever runs his account tweeted, &#8220;Bidenomics is about growing the economy by strengthening the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/under-trump-americans-have-seen-their-best-wage-growth-in-40-years\/\" title=\"Under Trump, Americans Have Seen Their Best Wage Growth In 40 Years\">middle class<\/a> and making things in America again.&#8221;<\/p>\n<p>The tweet \u200dconcluded, &#8220;It&#8217;s a stark contrast to MAGA Republicans\u2064 who are only focused on corporate profits.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Bidenomics is about growing the economy\u200c by strengthening the middle class and making things in America again.<\/p>\n<p>It&#8217;s a\u2064 stark contrast to MAGA Republicans who\u200d are only\u2062 focused on corporate profits.<\/p>\n<p>\u2014 Joe Biden \u200d(@JoeBiden) <a href=\"https:\/\/twitter.com\/JoeBiden\/status\/1692630199622341111?\">August 18, 2023<\/a><\/p>\n<\/blockquote>\n<p>Such broad economic <a href=\"https:\/\/www.westernjournal.com\/marjorie-taylor-greenes-reminder-1950s-rent-prices-nukes-bidens-healthy-economy-claims\/\" target=\"_blank\" rel=\"noopener\">claims<\/a> \u200d have been shared time and time again and viewed by many as dubious:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Lol. Middle class lost the chance to own a home under Bidenomics <a href=\"https:\/\/t.co\/D02ZvBg9Vf\">https:\/\/t.co\/D02ZvBg9Vf<\/a><\/p>\n<p>\u2014 Byron West (@ByronWest1776) <a href=\"https:\/\/twitter.com\/ByronWest1776\/status\/1692792188285899226?\">August 19, \u20622023<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">People can&#8217;t afford groceries<br \/>\nPeople can&#8217;t afford gasoline<br \/>\nPeople can&#8217;t afford to buy \u200ca\u200d home<\/p>\n<p>You need to wake up to the reality of Bidenomics,\u2062 wake up to the real world you created, just wake up. <a href=\"https:\/\/t.co\/9hDdhC9Neh\">https:\/\/t.co\/9hDdhC9Neh<\/a><\/p>\n<p>\u2014 Marc Lotter (@marc_lotter) <a href=\"https:\/\/twitter.com\/marc_lotter\/status\/1692634093832593575?\">August 18,\u200d 2023<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">So basically Biden 2024 is one giant gaslighting campaign. <a href=\"https:\/\/t.co\/Qor5NYJoJ9\">https:\/\/t.co\/Qor5NYJoJ9<\/a><\/p>\n<p>\u2014 Peter Daou (@peterdaou) <a href=\"https:\/\/twitter.com\/peterdaou\/status\/1692661550404767927?\">August 18,\u2062 2023<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Gaslighting 101<\/p>\n<p>\u2014 Magoo PhD \u2062(@HodlMagoo) <a href=\"https:\/\/twitter.com\/HodlMagoo\/status\/1692631125129388376?\">August 18,\u200d 2023<\/a><\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/www.westernjournal.com\/bank-america-issues-chilling-forecast-no-gdp-growth\/\" target=\"_blank\" rel=\"noopener\">Bank of \u200cAmerica&#8217;s<\/a> quarterly &#8220;Participant Pulse&#8221; report, the cold, hard truth is that life is so \u200cexpensive that many\u2062 people\u200b are tapping into their retirement accounts to scrape by.<\/p>\n<p>According to the report, in the second quarter of this year, 15,950 people made a hardship withdrawal from a 401(k) account, <a href=\"https:\/\/www.cnn.com\/2023\/08\/08\/economy\/401k-hardship-withdrawals\/index.html\" target=\"_blank\" rel=\"noopener\">CNN Business<\/a> reported after pouring over data.<\/p>\n<p>The\u200c staggering number was an increase \u2063of 36\u200d percent when \u200bcompared to the first three months of 2022.<\/p>\n<p>Additionally, contributions to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-fail-americans-increasingly-forced-to-dip-into-retirement-accounts-to-make-ends-meet-major-bank-reveals\/\" title=\"Major Bank Reveals: Americans Resort to Retirement Funds as Bidenomics Falters\">retirement accounts dropped\u2062 23 percent<\/a> between the first and second quarters of this year.<\/p>\n<h3>Do you agree this is more proof Bidenomics is failing\u200b America?<\/h3>\n<div id=\"firefly-poll-container\" class=\"one-half\">\n<div class=\"firefly-poll-question\">Do \u200byou agree this is more\u200c proof Bidenomics is failing\u200b America?<\/div>\n<div id=\"pollFormBox\" style=\"display: none\">\n\t\t<label>Yes<\/label><br \/>\n\t\t<label>No<\/label><br \/>\n\t\t<\/p>\n<div class=\"firefly-poll-disclaimer\">\n<p>\t\tCompleting this poll entitles you to The Western Journal news updates free of charge. You may opt out at anytime. You also agree to our <a href=\"https:\/\/www.westernjournal.com\/about\/privacy-policy\/\">Privacy Policy<\/a> and <a href=\"https:\/\/www.westernjournal.com\/about\/terms-service\/\">Terms of Use<\/a>.\n\t\t<\/div>\n<\/p><\/div>\n<div id=\"firefly-poll-results\" style=\"display: none\">\n<div id=\"firefly-poll-results-yes\" style=\"width: 100%\">\n<p>\t\t\tYes: 100% (1 Votes)\n\t\t<\/p><\/div>\n<div id=\"firefly-poll-results-no\" style=\"width: 0%\">\n<p>\t\t\tNo:\u200b 0% (0 Votes)\n\t\t<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p>While inflation rates have slowed down <a href=\"https:\/\/www.kiplinger.com\/retirement\/401ks\/more-americans-borrowing-from-401ks-to-get-by-financially\" target=\"_blank\" rel=\"noopener\">slightly<\/a> since last year, Americans&#8217; paychecks \u200care effectively 16 \u2062percent \u2064smaller under Biden&#8217;s\u200c watch.<\/p>\n<p>To boot, <a href=\"https:\/\/www.westernjournal.com\/bidens-america-40-believe-winning-lottery-best-chance-buy-home-poll-reveals\/\" target=\"_blank\" rel=\"noopener\">home ownership<\/a> is effectively unattainable for millions of Americans.<\/p>\n<p>With mortgage rates currently hovering around seven percent, a <a href=\"https:\/\/www.divvyhomes.com\/homeownership-survey\" target=\"_blank\" rel=\"noopener\">Divvy<\/a> survey\u200d recently \u200dfound that 56 percent of Americans\u2062 no longer believe they will achieve their dream of owning a home.<\/p>\n<p>And as <a href=\"https:\/\/nypost.com\/2023\/08\/20\/as-inflation-punishes-americans-joe-biden-lies-and-lies\/\" target=\"_blank\" rel=\"noopener\">The New York Post&#8217;s<\/a> Editorial \u200dBoard noted on Sunday, the average American spends $709 more on a monthly basis for basic goods than they did two years ago.<\/p>\n<p>That comes out \u2064to $8,508 annually per person to eat\u2063 and pay for services\u200c and utilities.<\/p>\n<p>Meanwhile, per the\u2064 Post, <a href=\"https:\/\/www.westernjournal.com\/biden-dems-blame-lower-wages-higher-gas-prices-inflation\/\" target=\"_blank\" rel=\"noopener\">wage growth<\/a> has only outpaced inflation for two of the past 22 months.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/bidenomics-fail-americans-increasingly-forced-dip-retirement-accounts-make-ends-meet-major-bank-reveals\/\">Bidenomics Fail: Americans Increasingly \u200dForced\u200c to Dip Into Retirement Accounts to Make Ends Meet, Major Bank\u2064 Reveals<\/a> appeared \u200bfirst on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>number of jobs created&#8221; and claimed that &#8220;America is on the move again.&#8221; However, the reality seems different as more people resort to using their retirement savings to make ends meet. This raises concerns about the actual state of the economy despite the optimistic narrative presented by President Biden and the Democrats.<\/p>\n","protected":false},"author":2006,"featured_media":2007269,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-2007268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2007268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2006"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2007268"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2007268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2007269"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2007268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2007268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2007268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}