{"id":2030001,"date":"2023-09-12T22:28:11","date_gmt":"2023-09-13T02:28:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-in-action-us-household-incomes-tumble-for-the-third-straight-year\/"},"modified":"2023-09-12T22:31:34","modified_gmt":"2023-09-13T02:31:34","slug":"bidenomics-in-action-us-household-incomes-tumble-for-the-third-straight-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-in-action-us-household-incomes-tumble-for-the-third-straight-year\/","title":{"rendered":"US Household Incomes Decline for Third Consecutive Year under Bidenomics."},"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\">20<\/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-in-action-us-household-incomes-tumble-for-the-third-straight-year%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=2030001&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>Bidenomics in\u200d Action: US Household \u2064Incomes Tumble for the Third Straight Year<\/h2>\n<p>President Joe Biden\u2062 and his administration are spending a lot of time touting the supposed \u201csuccess\u201d of Joe\u2019s \u201cBidenomics\u201d economy ahead of the 2024\u200d campaign season, meanwhile, the actual economic \u200cnumbers seem to show that \u200cthe exact opposite is \u2063true. Bidenomics is putting a \u2064serious\u200b hurt on Americans.<\/p>\n<p>The latest blow to Biden\u2019s claim that his \u200d <a href=\"https:\/\/www.westernjournal.com\/biden-tries-explain-bidenomics-giant-whiteboard-backfires-immediately\/\" target=\"_blank\" rel=\"noopener\">economic policies<\/a> are helping Americans get ahead comes from the U.S. Census Bureau which finds that American household income has fallen for the third straight year and the cost of living has soared with the highest \u2062inflation \u2064rate in forty years.<\/p>\n<p>Census Bureau data reported on Tuesday \u200cshows that\u200b the U.S. <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-in-action-us-household-incomes-tumble-for-the-third-straight-year\/\" title=\"US Household Incomes Decline for Third Consecutive Year under Bidenomics.\">real median household income fell<\/a> \u200cby\u2063 2.3 percent to $74,580\u2062 in\u2063 2022, down from\u2063 $76,330 in 2021. Inflation also rose 7.8\u200d percent, the highest annual rise since 1981, <a href=\"https:\/\/www.foxbusiness.com\/economy\/us-household-income-fell-2022-census-data-shows\" target=\"_blank\" rel=\"noopener\">Fox News<\/a> \u2063reported.<\/p>\n<blockquote>\n<h3>\u201cDespite the drop in income, the official \u200bpoverty rate was not statistically different \u2062in\u200d 2022 than the year before, at \u200b11.5%, with 37.9 million Americans living in poverty, according to the report. However, the Supplemental Poverty\u2062 Measure \u2062(SPM) rate, which accounts for \u200dparticipation in government\u200b programs, doubled from 5.2% in 2021 to 12.4% in 2022,\u201d Fox added.<\/h3>\n<\/blockquote>\n<p>The data reveals that\u200b in the era of <a href=\"https:\/\/www.westernjournal.com\/jpmorgan-ceo-dem-donor-jamie-dimon-slams-biden-now-bidenomics\/\" target=\"_blank\" rel=\"noopener\">Bidenomics<\/a>,\u2062 more \u200bAmericans took on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mcconnell-open-to-minimum-wage-increase-but-against-quick-raise-to-15-an-hour\/\" title=\"McConnell Open to Minimum Wage Increase, but Against Quick Raise to  an Hour\">full-time work<\/a> last year,\u2062 up 3.4 percent over 2021. The Bureau also found that\u200b more women \u200care working full-time than \u2064ever. In 2022, 65 percent of women were working a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/an-extended-look-at-candace-owens-like-youve-never-seen-her-before\/\" title=\"An Extended Look At\u00a0Candace Owens Like You\u2019ve Never Seen Her Before\">full-time job<\/a>, the highest rate ever recorded, which \u200bshows\u2062 that more women than ever are being taken out of the home.<\/p>\n<p>This would tend to show that Biden\u2019s economy is so\u2064 bad, more women are being\u2064 forced into full-time\u200d work for families to make \u2062ends meet.<\/p>\n<p>Wage growth also did not come anywhere near keeping up with inflation. Wages grew at\u200b a rate of 6.4 percent \u200blast year, but with inflation topping \u2063out at \u200c9.1 percent, \u2062that means workers actually \u200dlost money even\u200d if they did get a raise.<\/p>\n<p>On top of that, wage growth hit a wall\u200d in \u2063the early part of \u20632023. According to economists, Fox said,\u200c we will be lucky \u200dif wage growth amounts to four percent\u2062 this year.<\/p>\n<p>None\u200b of this sounds anything like \u201cBidenomics is working,\u201d as Joe and the cohorts in his regime \u2063are claiming.<\/p>\n<p>Even Vice \u200dPresident Kamal Harris briefly admitted that\u200d Bidenomics\u2064 is \u2062not improving the lives of Americans when <a href=\"https:\/\/www.westernjournal.com\/kamala-admits-bidenomics-not-working-saying-americans-cant-afford-400-surprise-expense\/\" target=\"_blank\" rel=\"noopener\">she noted<\/a> in July that many Americans can\u2019t\u200d afford a $400 \u200cemergency expense.<\/p>\n<p>In June, former Regan\u2062 advisor <a href=\"https:\/\/www.westernjournal.com\/reagan-economist-takes-presidents-claims-bidenomics-numbers\/\" target=\"_blank\" rel=\"noopener\">Larry \u200cKudlow destroyed Biden\u2019s claim<\/a> that\u200d Bidenomics is\u2062 working for \u2062Americans.<\/p>\n<p>In a speech in\u2062 Chicago, <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2023\/06\/28\/remarks-by-president-biden-on-bidenomics-chicago-il\/\" target=\"_blank\" rel=\"noopener\">Biden said<\/a>, \u201cI\u200c knew\u200d we couldn\u2019t go back \u2062to the same failed policies when I\u2063 ran, so I came into\u200b office determined\u200d to change the\u2062 economic direction of this country, to move from\u2062 trickle-down economics to what everyone on Wall Street Journal and \u2063Financial Times began to call \u2018Bidenomics.&#8217;\u201d<\/p>\n<blockquote>\n<h3>\u201cAnd \u200cguess\u200d what? Bidenomics\u200d is working,\u201d he exclaimed.\u200b \u201cWhen\u2063 I took office, the \u2062pandemic was raging and our economy was reeling, supply chains\u2064 were \u200cbroken, millions of \u200cpeople \u200bunemployed, hundreds of thousands of small \u2062businesses on the verge of closing after \u200dso many had \u200balready closed \u2014 literally, hundreds of thousands on the verge of closing.<\/h3>\n<\/blockquote>\n<p>\u201cToday, the\u2062 U.S. \u2063has the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-biden-attempts-to-quell-fears-over-inflation\/\" title=\"Joe Biden attempts to quell fears over inflation\">highest economic growth rate<\/a>, \u2064leading\u200c the world economies since\u2064 the pandemic. The highest in the world,\u201d Biden insisted.<\/p>\n<p>But the real \u200cnumbers \u200care\u200d not so rosy, Kudlow said. \u201cAfter Joe Biden\u2019s $2 \u2063trillion \u200bAmerican Rescue Plan, which \u200bwas his landmark policy, a 6.5 percent economy delivered by Donald Trump\u200c sputtered \u200dto\u2064 a 1 percent growth\u2064 rate \u200cin Biden\u2019s first full year,\u2062 2022\u2064 and early 2023,\u201d Kudlow retorted on\u200d his show at the \u200btime.<\/p>\n<blockquote>\n<h3>\u201cAnd after Trump hand-delivered \u200da 1.4 percent inflation rate, under \u200dBidenomics, it soared to a <a href=\"https:\/\/www.westernjournal.com\/reagan-economist-lays-steps-40th-president-took-kill-inflation\/\" target=\"_blank\" rel=\"noopener\">9 \u2062percent inflation rate<\/a>,\u2064 which destroyed family\u2062 affordability and worker income,\u201d the Fox Business Network host added.<\/h3>\n<\/blockquote>\n<p>\u201cReagan\u200b healed the sick and Biden has infected the healthy,\u201d Kudlow concluded.<\/p>\n<p>Kudlow and Biden\u2019s critics are right. Biden\u2019s <a href=\"https:\/\/www.westernjournal.com\/watch-biden-gets-torched-live-fox-news-graphics-shows-truth-bidenomics\/\" target=\"_blank\" rel=\"noopener\">disastrous<\/a> Inflation Reduction Act and his so-called \u201cBidenomics\u201d\u2063 plans have made\u200b all of us poorer, is driving up expenses for the lower and middle classes, and has\u2062 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nigeria-would-consider-chinas-c919-plane-for-new-airline\/\" title=\"Nigeria would consider China\u2019s C919 plane for new airline\">stymied economic growth<\/a>.<\/p>\n<p>The\u2063 post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/bidenomics-action-us-household-incomes-tumble-third-straight-year\/\">Bidenomics in Action:\u2063 US Household Incomes\u200c Tumble \u200dfor the \u2063Third Straight Year<\/a> appeared first on\u2062 <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden and his administration are heavily promoting the success of &#8220;Bidenomics&#8221; economy for the upcoming 2024 campaign. However, the economic figures suggest otherwise, indicating that Bidenomics is negatively impacting Americans. This poses a significant challenge to Biden&#8217;s assertions.<\/p>\n","protected":false},"author":180,"featured_media":2030002,"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-2030001","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\/2030001","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\/180"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2030001"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2030001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2030002"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2030001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2030001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2030001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}