President Joe Biden delivers a speech on the U.S. economy and “Bidenomics”, Thursday, September 14, 2023, at Prince George’s Community College in Largo, Maryland.(Official White House Photo by Adam Schultz)
A new survey from Bankrate reveals the sad truth about how Americans feel drowning in Joe Biden’s economy.
According to the survey, Americans feel they need to earn at least $186,000 per year to feel secure in an economy hammered by high interest rates, low homeownership, rising rent and home costs, and rising consumer costs like food and gas.
Unfortunately, for the vast majority of the population, only 6% of U.S. adults actually reach at least that threshold.
Federal data shows the median family income is between $51,500 and $86,000, less than half of what those polled said is needed to feel secure.
And, according to a previous Bankrate poll, Americans aren’t looking to live lavishly. They are simply hoping to live comfortably and unburdened by financial worries.
While Americans suffer, the Biden administration continues its relentless efforts to gaslight Americans on how his disastrous policing is ruining the country and putting the American Dream out of reach for the majority of people.
Biden and his mouthpieces continue to lie and say inflation was 9% when he took office in January 2021.
It was 1.4% in January 2021.
Biden’s lie was so egregious that even the Washington Post gave him four Pinocchio’s.
A recent research paper by four noted economists, including Larry Summers, the former Treasury Secretary under Barack Obama and former Harvard President, discovered that the real inflation rate during the Biden years, using pre-1983 calculations, reached 18% in 2022.
The number is the highest inflation rate the country has seen in over 50 years.
Man hits a button to reorder groceries he bought in 2022, guess how much the it costs in Biden’s economy today. pic.twitter.com/A7IpbSnFEe
— Catch Up (@CatchUpFeed) June 27, 2024
In the first quarter of 2024, the GDP dropped faster than expected. Real GDP increased 1.6% after rising 3.7% in the fourth quarter of 2023 based on government spending.
Meanwhile, inflation rose to 3.7% in the first quarter – squeezing consumers who are already strapped in the Biden economy.
A recent study found that half of renters in America cannot afford housing.
While the data from the study is from 2022, not much has changed since then in terms of the economy or the amount of available housing.
From CBS News:
Many inflation-weary consumers continue to experience financial stress, with a new Federal Reserve Bank of Philadelphia survey finding that 35% of Americans are worried about making ends meet, up from 29% a year earlier.
That gap between what the typical American earns and what they aspire to earn means “Americans have their eyes set on this high income, and they think they need to make more money even if they know it’s unrealistic they’ll never make that amount,” Sarah Foster, an analyst at Bankrate, told CBS MoneyWatch.
During remarks in Australia, Tucker Carlson made a haunting and heartbreaking observation about the impact of the economy on our society and on the next generation.
“The birthrate tells the whole story…they are not at replacement rate. And the U.S. population is growing because we are importing people from other countries.”
“And my view is that happy people have children. And a functioning economy allows them to do that. And we don’t have that. And so you need to fix the economy and fix the culture and make it so that people who want to have kids can.”
“You don’t go for the quick sugar fix of importing new people. That’s my position.”
“Americans aren’t having kids because they can’t afford to. And nobody in charge cares.
Watch:
Tucker Utterly Stumps Reporter By Simply Asking For A Citation pic.twitter.com/DwgKMgMTfB
— Daily Caller (@DailyCaller) June 26, 2024
The post Death of the Middle Class: In Joe Biden’s America, New Survey Reveals People Feel They Need to Earn Over $186,000 Annually Just to Feel Secure appeared first on The Gateway Pundit.
