Posted on 06/03/2022 1:04:27 PM PDT by COBOL2Java
Biden's claim was part of his speech on the May jobs report where he further said families have less debt and that their savings are up. These remarks are in light of record-high inflation.
According to CNBC American consumers ended last year with an accumulative 15.6 trillion dollars of debt, which they described as a "record-breaking increase." In today's remarks, Biden did not clarify the metric he used to qualify his claim.
In March of last year, Biden passed his American Rescue Plan which was a 1.9 trillion dollar stimulus package that continued payments directly to American families. Economic Impact Payments of $1,400 went to individuals, $2,800 for married couples, and $1,400 each dependent.
The bill also extended unemployment benefits, continued the eviction moratorium, and dispensed cash in a variety of other ways to state and local governments.
Despite the White House blaming Putin for current record inflation, the 2021 Stimulus was responsible for overheating the American economy and causing record inflation. When too much money chases a scarcity of goods it devalues the dollar, rendering the value of savings significantly less.
Biden said, "A recent survey from the Federal Reserve found that more Americans feel financially comfortable than at any time since the survey began in 2013." The survey in reference is the Survey of Consumer Finances where families volunteer for two hours or more of questioning. The survey is conducted every three years from a random sampling of anywhere between 4500 and 6500 families.
As The Post Millennial reported, Biden is facing anger and frustration as Americans are struggling with historic inflation, its effect on the economy, and a possible recession.
No doubt true for the people in his orbit. War is profitable. Ten percent for the big guy.
Hunter and family that is.
I guess I am an exception!
Well, he’s right. More Democratic voters are receiving government stipends today than at any other time in history.
Leftist fact-checkers all over this.
Various Disinformation Boards are all over this.
No doubt Twitter, Facebook, and YouTube removed all videos of BidenIdiot making the claim.
Yeah.
/s
Drug testing or is it 25th Amendment time
Let’s go Brandon! Keep bragging about how Americans are really happy under you but they’re just too dumb to know it. Your reassurance that there is no problem so the fact that you have no answers makes perfect sense and will raise the poll numbers for sure!
I'm guessing Brandon will be really upset with his staff when they cannot find any meaningful statistic to back up his delusion.
I retired 14 years ago. This is the second year I have had to watch my retirement funds real close. I have put off several trips as I can no longer go on them.
Before I go anywhere I figure the shortest way to not waste gasoline. Never thought it would come to this!
Well by his logic, shouldn’t Putin be getting the credit?
It’s all just a LARP at this point.
I just paid seventy dollars for three pieces of metal flashing. Pre-Joe price, nineteen dollars.
S&P 500 is down 14% year-to-date.
People with retirement accounts are NOT happy.
Democrat Politicians live in Fantasy Land, completely divorced from reality and utterly tone deaf. Anyone with an IQ above room temperature knows this statement is a barefaced lie.
The Central and South Americans who have crossed the border, that is...
You couldn’t make this stuff up, but somebody sure as hell is.
> more Americans feel financially comfortable <
To be fair, Biden took a poll before making that announcement. His wife Jill said she was more financially comfortable. And his dopehead painter son Hunter said he was more financially comfortable.
So there ya go. 100% positive responses.
Proof of dementia.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.