Biden’s Economic Strain Hits Americans as Inflation Soars, Net Worth Stalls

Under President Joe Biden’s administration, many Americans are struggling with their finances. The Wall Street Journal reported that when adjusted for inflation, American households’ net worth only grew by 0.7 percent during Biden’s first three years in office, a stark decline from the 16 percent rise during former President Donald Trump’s first three years.

While the unadjusted household net worth rose 19 percent during Biden’s first three years, this pales in comparison to the 23 percent increase seen during Trump’s first three years. The White House often insists that American families and the economy are doing well under Biden, but the reality indicates otherwise.

Inflation has become a significant issue during Biden’s presidency, with many Americans finding it difficult to pay their bills. The economy has been affected by a 40-year high inflation rate of 9.1 percent, causing financial strain for many households.

A study released by the Federal Reserve revealed that two-thirds of Americans say the rising cost of living has negatively impacted their financial situation, making inflation a top concern for many. Even Treasury Secretary Janet Yellen admitted that many Americans are facing financial difficulties due to the cost of living.

Despite substantial wage increases, the noticeable inflation is taking a toll on Americans. This economic pressure prompts questions about Biden’s prioritization of mass illegal immigration and the allocation of billions of U.S. tax dollars to other countries.

The looming 2024 election is considered crucial, as former U.S. national security advisor Lt. Gen. Michael Flynn warned that its outcome is pivotal for the future of America. The Western Journal is seeking support from its readers to continue the fight against Big Tech’s control over media and the narrative.

Written by Staff Reports

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