November 29 2022
Personal Savings Plummet Under Biden
A new Reuters poll shows 66 percent of Americans think the country is on the wrong track. This is unsurprising considering how awful life has become for so many under Biden’s lack of leadership.
The latest economic data shows that Democrat control has almost completely wiped out Americans’ personal savings.
The Biden presidency has eliminated 84 percent of Americans’ personal savings, data from the Federal Reserve Bank of St. Louis shows.
In the first quarter of 2021, personal savings totaled $3.9 trillion. Personal savings declined 84 percent to 626 billion in the third quarter of 2022.
Americans’ personal savings haven’t been this low since 2009.
Biden’s economy continues to fail Americans. This stands in stark contrast to the roaring Trump economy with record employment and rising incomes.
As Americans struggle, the White House is bragging about gas prices that are 50 percent higher than when Biden took office.
Here are more statistics showing Biden’s failures:
The Daily Signal: “An economist says the average American family has lost upward of $7,000 due to inflation.”
CNBC: “As rising prices continue to outpace wage gains, families are finding less cushion in their monthly budget.
As of September, 63% of Americans were living paycheck to paycheck, according to a recent LendingClub report — near the 64% historic high hit in March. A year ago, the number of adults who felt strained was closer to 57%.”
Reuters: “Heating oil costs for U.S. households rose by 65% in October compared to the same month last year, due to depleted stocks furthered by low imports and production constraints, the U.S. Energy Information Administration (EIA) said on Thursday.
The EIA's weekly Heating Oil and Propane Update showed heating oil prices climbed to a record high of $5.9 per gallon in the week ending Nov. 7, according to the data for the winter heating season from October through March going back to 1990.”