{"id":2036950,"date":"2023-09-19T07:45:01","date_gmt":"2023-09-19T11:45:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/falling-household-income-numbers-show-how-bidenflation-has-hit-americans-wallets\/"},"modified":"2023-09-19T07:50:50","modified_gmt":"2023-09-19T11:50:50","slug":"falling-household-income-numbers-show-how-bidenflation-has-hit-americans-wallets","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/falling-household-income-numbers-show-how-bidenflation-has-hit-americans-wallets\/","title":{"rendered":"Declining household income reveals the impact of &#8216;Bidenflation&#8217; on Americans&#8217; finances."},"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%2Ffalling-household-income-numbers-show-how-bidenflation-has-hit-americans-wallets%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=2036950&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--><div class=\"article-content\">\n<h2 class=\"wp-block-heading\"><strong>The Biden Administration&#8217;s Failure to Address the\u2062 Economic Crisis<\/strong><\/h2>\n<p>The Biden administration seems oblivious to the fact that the American people are not \u2063giving them the credit they believe \u200dthey deserve for the state of \u200dthe nation&#8217;s economy. It&#8217;s time for them to \u200bwake up \u2062and acknowledge that \u2062&#8221;Bidenomics&#8221;\u200b has led to the detrimental phenomenon known as &#8220;Bidenflation.&#8221;<\/p>\n<p>The Census Bureau\u2062 recently released its \u2063annual\u200d reports on income, poverty, and health\u2062 insurance coverage, revealing \u200bthe harsh reality of how families have\u2063 suffered since the\u2063 Covid pandemic. It&#8217;s clear \u200bthat low unemployment rates and even rising wages will not improve public sentiment about the economy unless inflation is brought under control.<\/p>\n<div class=\"fdrlst__b89e9-paragraph-2-long d-flex justify-content-center\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"fdrlst__b89e9-748311712\">\n<div id=\"div-gpt-ad-1379703300879-0\" class=\"mb-30\"><\/div>\n<\/div>\n<div class=\"fdrlst__b89e9-54ff0652db7682107022a998c09cf369 fdrlst__b89e9-paragraph-2\" id=\"fdrlst__b89e9-54ff0652db7682107022a998c09cf369\"><\/div>\n<h2 class=\"wp-block-heading\"><strong>American Households Struggling Financially<\/strong><\/h2>\n<p>The most revealing \u200cdata can be found in Table A-2 of the \u2064income study released by the Census\u2064 Bureau. \u200bOne column in that table \u200bdisplays the median income of households for each year. These numbers clearly demonstrate how American families have been losing ground:<\/p>\n<ul>\n<li><strong>2019: $78,250<\/strong><\/li>\n<li><strong>2020: $76,660 ($1,590 below 2019)<\/strong><\/li>\n<li><strong>2021: $76,330 ($1,920 below 2019)<\/strong><\/li>\n<\/ul>\n<div class=\"fdrlst__b89e9-b620ae686be5feb15741c4e468d60cc1 fdrlst__b89e9-paragraph-6\" id=\"fdrlst__b89e9-b620ae686be5feb15741c4e468d60cc1\"><\/div>\n<p><strong>2022: $74,580\u200d ($3,670\u2064 below 2019)<\/strong><\/p>\n<p>In other words, the median income of American households last year\u2063 was $3,670 less than it was before the \u200cCovid pandemic.<\/p>\n<p>These median income figures are adjusted for inflation.\u200b The significant increase in inflation, as indicated by the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sorry-legacy-media-the-fbis-trump-raid-doesnt-change-the-fact-that-bidens-presidency-sucks\/\" title=\"Sorry Legacy Media, The FBI\u2019s Trump Raid Doesn\u2019t Change The Fact That Biden\u2019s Presidency Sucks\">consumer price index rising<\/a> by 7.8 percent in\u2064 2022 (the largest \u2062increase since 1981, according to the census), explains why median household income dropped by 2.3 percent last year.<\/p>\n<p>Over the past four years, the disparity becomes even more striking. In total, the median family has experienced a loss of $7,180 in real income since 2019. This calculation does not account for any\u2064 additional real\u200b income \u2063growth \u200dduring this period, despite the fact that incomes typically increase under normal economic conditions. (The census report highlights \u2064that median incomes in 2019\u2062 were the highest recorded since 1967.)<\/p>\n<div class=\"fdrlst__b89e9-eab300d7d83b78220fec79adc7db4f3c fdrlst__b89e9-paragraph-10\" id=\"fdrlst__b89e9-eab300d7d83b78220fec79adc7db4f3c\"><\/div>\n<p>The census data \u200cclearly explain why &#8220;Bidenomics&#8221; remains deeply unpopular. Given the choice, would you prefer a $1,400 stimulus payment or\u200b to have the $7,180 lost in income over the past four years back in\u200c your wallet? I know which option I would choose, and\u2062 it\u200c certainly isn&#8217;t the stimulus.<\/p>\n<p>Incomes have continued to stagnate since last year. Although real earnings saw some growth from March to July, the recent surge in gas prices resulted in a\u2062 0.5 percent decline in real hourly \u2062earnings in August when adjusted for inflation. \u200cFrom August 2022 to last month, real hourly\u2063 earnings increased by only 0.5 percent, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/real-wages-have-declined-3-9-since-last-year\/\" title=\"Real Wages Have Declined 3.9% Since Last Year\">real weekly earnings<\/a> (which reflect changes in hours worked per week) \u2063grew by a mere 0.3 percent. These figures are\u2064 far from sufficient \u200bto compensate for the stagnation experienced over the past four years.<\/p>\n<h2 class=\"wp-block-heading\"><strong>The Media&#8217;s Misleading Narrative<\/strong><\/h2>\n<p>As usual, the \u200dcorporate media has missed the true story behind the census numbers, instead choosing to focus on a topic that exacerbates the issue. Take, for example, \u2064an article from The \u2063Hill with \u2064a headline proclaiming, &#8220;Poverty Rate Increases for \u200dthe First Time since 2010.&#8221; The article also claims that &#8220;the child poverty rate more than doubled,\u200b from 5.2 percent in 2021 to 12.4 percent in 2022.&#8221;<\/p>\n<p>Only in the penultimate paragraph does the article reveal something \u2063closer to the\u200b truth:<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>The Census also\u200c found that the official poverty rate, which does not include government programs, was 11.5 percent between 2021 and 2022\u2063 and\u200d not statistically \u200bsignificant.<\/p>\n<\/blockquote>\n<p>In other words, the headline about the poverty rate increasing\u200c and the content of all the preceding paragraphs about the child poverty rate more than doubling were at best misleading and at worst completely false. The media and the left (which\u200d are often indistinguishable) focused on the unofficial poverty metric because they want to construct a narrative that justifies the restoration of pandemic-era welfare programs to &#8220;reduce poverty.&#8221;\u2062 The inconvenient truth that the official poverty rate, which <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/falling-household-income-numbers-show-how-bidenflation-has-hit-americans-wallets\/\" title=\"Declining household income reveals the impact of 'Bidenflation' on Americans' finances.\">excludes government program payments<\/a>, remained statistically unchanged \u200cwas conveniently ignored.<\/p>\n<p>Equally inconvenient, and\u200c therefore ignored, \u200cis the fact that these pandemic welfare programs have fueled rampant inflation, leaving Americans worse off than they were before Covid.\u200d That is the real story behind the \u2062Census Bureau reports, and it&#8217;s\u200c a story that\u2064 families \u200dare grappling with every day.<\/p>\n<hr class=\"wp-block-separator\">\n<\/div>\n<p> <\/p>\n<h2> How has the\u200d rising cost of living impacted American households&#8217; ability to\u2062 <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\">make ends meet<\/a>?<\/h2>\n<p><span>  Income actually decreased by\u2064 0.9 percent. This stagnant growth in incomes, coupled with the \u200brising cost of living, has put a significant strain on American households.<\/p>\n<p>One \u2063of the\u200b key drivers of the economic crisis under the \u200dBiden\u2062 administration has been \u2064the phenomenon of &#8220;Bidenflation.&#8221; \u200bInflation has reached its highest level in decades, eroding the purchasing power of American families. The consumer\u200d price index rising by 7.8 percent in\u200c 2022 \u200dis a clear indication of this alarming trend. The rising cost of essential goods and services, from housing to food to gas, has made it increasingly difficult for \u2064families to make ends meet.<\/p>\n<p>It is not just the cost of living\u2063 that has worsened\u200c under &#8220;Bidenomics&#8221;. The impact of\u2062 the Covid pandemic has resulted in significant job losses and disruptions to\u2063 businesses. The unemployment rate may have decreased, but this does not tell the whole story. Many Americans have been forced\u200b into\u200d lower-paying jobs or have given up looking for work altogether. The underemployment rate, which includes those who are working part-time but \u200bwant full-time employment, remains high.<\/p>\n<p>The Biden administration&#8217;s approach to addressing the economic crisis has largely focused on government spending and stimulus packages. While these\u200b measures may provide short-term \u2064relief, they do not address\u200b the root \u200bcauses of the problem. In fact, they may exacerbate the \u200cissue by adding to the national debt and putting\u200c further pressure on inflation.<\/p>\n<p>What American\u2063 households need is a comprehensive and sustainable approach to economic recovery. This should include measures\u2064 to control inflation, stimulate \u200cjob\u2063 growth, and support small\u2063 businesses. It is crucial for \u200bthe Biden administration to work with Congress and the private sector to implement\u2062 policies that will create a favorable environment for businesses to thrive and for workers\u200d to secure stable,\u200b well-paying jobs.<\/p>\n<p>In addition, the administration should prioritize investments in education and \u2062skills training to equip workers with the \u200cnecessary tools for the jobs of\u2064 the future. This will \u200cnot only help individuals improve their earning potential but also contribute to long-term \u200deconomic growth and competitiveness.<\/p>\n<p>The Biden\u200c administration \u2063cannot continue to ignore the harsh reality facing American households. \u200c&#8221;Bidenomics&#8221; has failed to deliver the economic recovery that was promised. Inflation, stagnant\u200b incomes, and a lack of meaningful job opportunities have left millions of Americans struggling\u2064 to make ends meet. It is time for the administration to reassess its approach and implement effective policies that will truly address\u200c the economic crisis and provide relief to American families.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration fails to grasp why Americans haven&#8217;t acknowledged their role in the economy. It&#8217;s time they recognize that &#8220;Bidenomics&#8221; has contributed to &#8220;Bidenflation.&#8221; The Census Bureau&#8217;s recent reports on income, poverty, and health insurance coverage shed light on the situation.<\/p>\n","protected":false},"author":521,"featured_media":2036951,"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":[546],"tags":[],"class_list":["post-2036950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-federalist"],"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\/2036950","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\/521"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2036950"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2036950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2036951"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2036950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2036950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2036950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}