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.
Senile moron.
Only those who converted their dollars to pesos or venezuelan currency can feel comfortable!
Yeah, right, Brandon.
He’s got to be doing too many drugs. I just paid 60 bucks to fill up my Challenger. Comfortable my arse.
Gropin’ Joe has spent WAY too much time in the basement.
“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!”
I’ve been retired for 3 years and the funds are getting shorter. None of my business, but are you drawing off of your investments or are you living off of social security and a pension? You don’t have to say if you don’t want to.
“Biden claims ‘more Americans feel financially comfortable’ since he took office”
Biden claims ‘more Americans feel financially comfortable’ with poverty since he took office
There, fixed it
Just wait until people freeze to death this winter because they can’t afford to pay for heat.
Biden won’t give a crap...and it won’t even get mentioned in of his patented mumblejumble speeches and whispers
Just what kind of drugs do they have this idiot taking?
It seems the most obvious characteristic of this Biden jerk and his Deep State henchmen is their unabashed willingness to outright lie about practically every issue of importance to America and its people! It’s astonishing!
The phrase "financially comfortable" suggests that whoever took the survey has no idea what normal people face.
When the economy is going well, there’s no need to try to push these garbage polls. Biden’s pleas prove that the economy is not going well.
The Biden gang will use that as an excuse to print more money.
That’s just complete, old fool nonsense. DOKTOR Jill and his handlers are blowing smoke up his ass or something.
He will go down as the very worst one-term President in history. Democrats and MSM will try to rewrite history and say not so, but troubles we are about to experience will transcend that through word of mouth for generations to come.
DC corrupt 'elites' are doing just fine... Next time they should poll the rest of the country.
all of them “new americans” and welfare rats, is that it???
Or could be rich rats with investments in, or business related to, something the Biden gang is pushing. I noticed home prices are going way up.
yup
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