US Household Incomes Tumble for a Third Straight Year
According to Biden and his administration, Bidenomics “is working,” claiming that he’s improving the economy and American lives. But the latest numbers from the US Census Bureau paint a very different picture.
In fact, the Census Bureau noted in a data report on Tuesday that American household income has fallen for the third year in a row now. And yes, it’s all thanks to Bidenomics.
In 2021, the real median household income was around $76,330. In 2022, that fell by about 2.3 percent to $74,580. And as Fox News reported, inflation also rose by 7.8 percent, the highest annual rise since 1981.
Now, the outlet noted that despite those damning facts, official poverty rates didn’t change at all, remaining at around 11.5 percent, with 37.9 million Americans in poverty. “however, the Supplemental Poverty Measure (SPM) rate, which accounts for participation in government programs, doubled from 5.2% in 2021 to 12.4% in 2022.”
Additionally, more Americans are working full-time than ever before, including women.
According to Bureau statistics, 65 percent of women worked full-time in 2022, the highest rate ever recorded. Presumably, this means more women than ever have been forced to find work outside the home to supplement their household income.
It was also noted that wage growth, well, didn’t really grow. Or at least it couldn’t keep up with inflation.
Data shows that wages grew by around 6.4 percent last year. But since inflation also increased, and by a lot (9.1 percent), workers actually lost money in the long run – even if they got a raise.
And yet, Biden says, “Today, the US has the highest economic growth rate, leading the world in economics since the pandemic. The highest in the world.”
Yeah, the rest of America and I aren’t seeing that anywhere in reality.