{"id":2252319,"date":"2024-05-24T16:10:01","date_gmt":"2024-05-24T20:10:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chart-shows-change-in-household-net-worth-under-biden-is-on-par-with-trump-years-but-adjusting-for-inflation-undoes-it-all\/"},"modified":"2024-05-24T16:11:59","modified_gmt":"2024-05-24T20:11:59","slug":"chart-shows-change-in-household-net-worth-under-biden-is-on-par-with-trump-years-but-adjusting-for-inflation-undoes-it-all","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chart-shows-change-in-household-net-worth-under-biden-is-on-par-with-trump-years-but-adjusting-for-inflation-undoes-it-all\/","title":{"rendered":"Chart Reveals Similar Household Net Worth Trend Between Biden and Trump Eras &#8211; Inflation Adjustment Alters the Story"},"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\">36<\/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%2Fchart-shows-change-in-household-net-worth-under-biden-is-on-par-with-trump-years-but-adjusting-for-inflation-undoes-it-all%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=2252319&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--><p>Samantha Chang&#8217;s commentary on the financial \u200bimpact \u200cof Biden&#8217;s presidency compared to Trump&#8217;s term sheds light on the stark differences in household net\u200b worth growth, particularly when adjusted for inflation. Americans are feeling \u200dthe strain,\u2062 grappling\u2064 with \u200brising costs and inflation, making financial stability a pressing \u200bconcern under\u2062 the\u2064 current administration. Biden&#8217;s\u200b approach to economic challenges faces increasing scrutiny amidst mounting pressures on \u2062American households.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/commentary\/\">  Commentary <\/a>   <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/schang\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/schang\/%20\"><span>Samantha Chang<\/span><\/a> <\/span> <span>   May 24, 2024 at 11:28am <\/span> <\/span>  <\/header>\n<section>\n<p>If you feel more financially pinched under Joe Biden\u2019s disastrous presidency than when former President Donald Trump was in office, you\u2019re not alone.<\/p>\n<p>When adjusted for inflation, American households\u2019 net worth rose a mere 0.7 percent during <a href=\"https:\/\/www.westernjournal.com\/biden-admin-totally-deplete-northeast-gasoline-reserve-bid-lower-prices-election\/\" target=\"_blank\" rel=\"noopener\">Biden<\/a>\u2018s first three years in office \u2014 a stark contrast to the 16 percent increase they enjoyed during Trump\u2019s first three years, <a href=\"https:\/\/www.wsj.com\/economy\/stock-market-performance-biden-trump-charts-1a83371b\" target=\"_blank\" rel=\"noopener\">The Wall Street Journal<\/a> reported last week.<\/p>\n<p>The picture for Biden is far rosier \u2014 but grossly misleading \u2014 when inflation isn\u2019t taken into account.<\/p>\n<p>Unadjusted <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">household net worth<\/a> rose 19 percent during the president\u2019s first three years, compared with the 23 percent spike seen in <a href=\"https:\/\/www.westernjournal.com\/newsmax-anchor-digs-mainstream-medias-unified-reich-trump-claim-discovers-ridiculous-hoax\/\" target=\"_blank\" rel=\"noopener\">Trump\u2019s<\/a> first three years.<\/p>\n<p>While the White House routinely insists American families and the economy are thriving under Biden, the reality is dismal.<\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">Wow. This is brutal\u2026<\/p>\n<p>\u201cAdjusted for inflation, household net worth was up just 0.7% through Biden\u2019s first three years. It was up 16% through Trump\u2019s first three years.\u201d \u2013 <a href=\"https:\/\/twitter.com\/WSJ?\">@WSJ<\/a> <a href=\"https:\/\/t.co\/dJiDttVSGz\">pic.twitter.com\/dJiDttVSGz<\/a><\/p>\n<p>\u2014 Geiger Capital (@Geiger_Capital) <a href=\"https:\/\/twitter.com\/Geiger_Capital\/status\/1792223313080549633?\">May 19, 2024<\/a><\/p>\n<\/blockquote>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">Today\u2019s WSJ. This is the first time I\u2019ve seen that bottom graph. <a href=\"https:\/\/t.co\/nRSel8FOAE\">pic.twitter.com\/nRSel8FOAE<\/a><\/p>\n<p>\u2014 Todd Zywicki (@ToddZywicki) <a href=\"https:\/\/twitter.com\/ToddZywicki\/status\/1792191368229708036?\">May 19, 2024<\/a><\/p>\n<\/blockquote>\n<p>Many Americans are struggling to pay their bills amid the <a href=\"https:\/\/www.westernjournal.com\/bidenomics-inflation-killing-american-dream-100k-no-longer-enough-survive-states\/\" target=\"_blank\" rel=\"noopener\">inflation<\/a> that has become emblematic of this presidency.<\/p>\n<p>Two weeks ago, Biden lied when he <a href=\"https:\/\/www.westernjournal.com\/fact-check-biden-claimed-inflation-9-entered-office-truth-paints-much-different-story\/\" target=\"_blank\" rel=\"noopener\">falsely claimed<\/a> inflation was 9 percent when his term began.<\/p>\n<p>In reality, inflation was a mere 1.4 percent when Trump left office.<\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">Biden repeats lie that inflation \u2018was at 9% when I came in\u2019 as president <a href=\"https:\/\/t.co\/0HEFZqEOJo\">https:\/\/t.co\/0HEFZqEOJo<\/a> <a href=\"https:\/\/t.co\/PLSLKON58e\">pic.twitter.com\/PLSLKON58e<\/a><\/p>\n<p>\u2014 New York Post (@nypost) <a href=\"https:\/\/twitter.com\/nypost\/status\/1790646067874181535?\">May 15, 2024<\/a><\/p>\n<\/blockquote>\n<p>By June 2022, inflation had surged to a 40-year high of <a href=\"https:\/\/www.bls.gov\/opub\/ted\/2022\/consumer-prices-up-9-1-percent-over-the-year-ended-june-2022-largest-increase-in-40-years.htm\" target=\"_blank\" rel=\"noopener\">9.1 percent<\/a> on Biden\u2019s watch.<\/p>\n<p>Essentially, Americans are <a href=\"https:\/\/www.westernjournal.com\/bidenomics-five-cities-rent-continues-explode-impact-election\/\" target=\"_blank\" rel=\"noopener\">struggling financially<\/a>, and no amount of statistical massaging can change that.<\/p>\n<p>This is bad news for Biden, as <a href=\"https:\/\/news.gallup.com\/poll\/642887\/inflation-immigration-rank-among-top-issue-concerns.aspx\" target=\"_blank\" rel=\"noopener\">polls<\/a> indicate that inflation is Americans\u2019 No. 1 concern.<\/p>\n<p>Indeed, two-thirds of Americans say the rising cost of living has hurt their financial situation, <a href=\"https:\/\/www.npr.org\/2024\/05\/22\/1252712615\/prices-americans-concern-economy-inflation-expenses\" target=\"_blank\" rel=\"noopener\">NPR<\/a> reported Saturday, citing a <a href=\"https:\/\/www.federalreserve.gov\/publications\/files\/2023-report-economic-well-being-us-households-202405.pdf\" target=\"_blank\" rel=\"noopener\">study<\/a> released by the Federal Reserve.<\/p>\n<div id=\"firefly-poll-container\">\n<p>Were you better off under Trump?<\/p>\n<\/p><\/div>\n<p>The reality is so grim that even Biden\u2019s treasury secretary, Janet Yellen, concedes many Americans are struggling.<\/p>\n<p>\u201cThe cost of living is a problem to a lot of people,\u201d Yellen told the <a href=\"https:\/\/www.ft.com\/content\/38935f6b-4f61-4001-84a7-226e52d9a184\" target=\"_blank\" rel=\"noopener\">Financial Times<\/a> on Thursday. \u201cSo I think this is a concern that people legitimately have.\u201d<\/p>\n<p>\u201cThey see it when they shop for food,\u201d she said. \u201cThey see it in terms of rentals. With higher mortgage rates, it\u2019s tough for young people who would like to buy a house to enter the market.\u201d<\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">Retirees can\u2019t afford to stay retired in Crooked Joe Biden\u2019s economy:<\/p>\n<p>\u201cThe economy is not great \u2014 and the inflation costs are just unbelievable!\u201d<\/p>\n<p>\u201cMy pension through law enforcement is a very good pension \u2026 it\u2019s just not enough under today\u2019s current economy.\u201d <a href=\"https:\/\/t.co\/0gYX8Sybun\">pic.twitter.com\/0gYX8Sybun<\/a><\/p>\n<p>\u2014 RNC Research (@RNCResearch) <a href=\"https:\/\/twitter.com\/RNCResearch\/status\/1793404932910968897?\">May 22, 2024<\/a><\/p>\n<\/blockquote>\n<p>This is a telling admission from the nation\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kerosene-on-the-fire-obama-adviser-says-biden-spending-agenda-is-worsening-inflation\/\" title=\"\u2018Kerosene On The Fire\u2019: Obama Adviser Says Biden Spending Agenda Is Worsening Inflation\">top economic official<\/a>, whose job is to ensure financial stability and promote American prosperity.<\/p>\n<p>\u201cAlthough wages have gone up significantly \u2014 and, at least on average, more than prices have gone up \u2014 there are substantial increases in prices that are important to people,\u201d Yellen said.<\/p>\n<p>\u201cAnd it\u2019s substantial increases in a relatively short period of time that are very noticeable to people,\u201d she said.<\/p>\n<p>Americans are buckling under <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-five-cities-where-rent-continues-to-explode-how-it-could-impact-the-election\/\" title=\"Bidenomics Impact: Rent Surges in Five Cities - Election Influence\">severe economic pressures<\/a> right now, which makes you wonder why Biden incentivizes <a href=\"https:\/\/www.westernjournal.com\/biden-admin-planning-roll-cards-illegal-immigrants-summer-10000-cards-first-round-issue-across-us\/\" target=\"_blank\" rel=\"noopener\">mass illegal immigration<\/a> and sends tens of billions of U.S. tax dollars to Ukraine and other nations.<\/p>\n<hr>\n<div>\n<p><b><i>A Note from Our Deputy Managing Editor:<\/i><\/b><\/p>\n<p><i><span>I heard a chilling comment the other day: \u201cWe don\u2019t even know if an election will be held in 2024.\u201d <\/span><\/i><\/p>\n<p><i><span>That wasn\u2019t said by a conspiracy theorist or a doomsday prophet. No, former U.S. national security advisor Lt. Gen. Michael Flynn said that to the founder of The Western Journal, Floyd Brown.<\/span><\/i><\/p>\n<p><i><span>Gen. Flynn\u2019s warning means that the 2024 election is the most important election for every single living American. If we lose this one to the wealthy elites who hate us, hate God, and hate what America stands for, we can only assume that 248 years of American history and the values we hold dear to our hearts may soon vanish.<\/span><\/i><\/p>\n<p><i><span>The end game is here, and as Benjamin Franklin said, \u201cWe must all hang together, or assuredly we shall all hang separately.\u201d<\/span><\/i><\/p>\n<p><i><span>All of this means that <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>without you<\/span><\/i><\/a><i><span>, it\u2019s over. We have the platform, the journalists, and the experience to fight back hard, but Big Tech is strangling us through advertising blacklists, shadow bans, and algorithms. Did you know that we\u2019ve been blacklisted by 90% of advertisers? Without direct support from you, our readers, we can\u2019t continue the fight.<\/span><\/i><\/p>\n<p><i><span>Can we count on <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>your support<\/span><\/i><\/a><i><span>? It may not seem like much, but a <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Western Journal Membership<\/span><\/i><\/a><i><span>  can make all the difference in the world because when you support us directly, you cut Big Tech out of the picture. They lose control. <\/span><\/i><\/p>\n<p><i><span>A monthly Western Journal Membership costs less than one coffee and breakfast sandwich each month, and it gets you access to ALL of our content \u2014 news, commentary, and premium articles. You\u2019ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America\u2019s soul in 2024.<\/span><\/i><\/p>\n<p><i><span>We are literally counting on you because without our members, The Western Journal would cease to exist. Will you <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  in the fight? <\/span><\/i><\/p>\n<p><i><span>Sincerely,<\/span><\/i><\/p>\n<p><i><span>Josh Manning<\/span><\/i><\/p>\n<p><i><span>Deputy Managing Editor<\/span><\/i><\/p>\n<p><i><span>The Western Journal<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-45423\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/schang\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-45423\">Summary<\/label><label for=\"more-info-tab-radio-45423\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-45423\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-45423\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>Samantha Chang is a political commentator, lawyer and financial editor in NYC.<\/p>\n<\/p><\/div>\n<div>\n<p>  Samantha Chang is a politics writer, lawyer and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/teacher-investigated-after-movie-she-showed-in-classroom-takes-shot-at-christian-school-board-member\/\" title=\"Teacher Investigated After Movie She Showed in Classroom, Takes Shot at Christian School Board Member\">financial editor based<\/a> in NYC. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Samantha Chang&#8217;s May 24, 2024, commentary notes a noticeable financial strain under Biden&#8217;s presidency compared to Trump&#8217;s term. Adjusted for inflation, American households experienced a mere 0.7% net worth increase in Biden&#8217;s initial three years in office \u2014 a striking observation<\/p>\n","protected":false},"author":2011,"featured_media":2252320,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/Biden-chart.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-2252319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/Biden-chart.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2252319","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\/2011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2252319"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2252319\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2252320"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2252319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2252319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2252319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}