info
Google Groups no longer supports new Usenet posts or subscriptions. Historical content remains viewable.
Dismiss
Re: Americans Lost over $4K in Annual Income Thanks to President Biden; Financial Catastrophe
0 views
Skip to first unread message
Mary E. Junck Chairman
Dec 1, 2022, 7:05:04 AM12/1/22
to
In article <XnsAD2B7AF0...@95.216.243.224>
Lustern <luster...@zombie.org> wrote:
>
> Go Brandon!
>
> "Americans Lost over $4K in Annual Income Thanks to President Biden:
> ‘Financial Catastrophe’"
>
> <https://www.breitbart.com/economy/2022/09/24/report-americans-lost-over-
> 4k-annual-income-thanks-president-biden-financial-catastrophe/>
>
> "Americans are bleeding money and struggling to make ends meet, thanks to
> President Joe Biden (D).
>
> “New economic numbers show that the average American has lost the
> equivalent of $4,200 in annual income under the Biden administration
> because of inflation and higher interest rates,” the Heritage Foundation
> said in a press release Thursday.
No mention of the loss of funds from 401ks. Some 401ks lost 25%-
35% of their entire value because of Biden incompetence.
> The foundation continued:
>
> Heritage experts calculated this shocking number based on different sets
> of data. Consumer prices have risen 12.7% since January 2021,
> significantly faster than wages, so that the average American worker has
> lost $3,000 in annual purchasing power. Further, as the Federal Reserve
> implements tighter monetary policy to reduce inflation, interest rates
> are rising. Higher rates have in turn increased borrowing costs on
> mortgages, vehicle loans, credit cards, and more. The higher interest
> rates and borrowing costs have effectively reduced the average American’s
> purchasing power another $1,200 on an annualized basis.
>
> Meanwhile, more Americans are shouldering credit card debt as inflation
> continues hurting families, Breitbart News reported Wednesday.
>
> “In a recent survey from CreditCards.com commissioned by YouGov, 60
> percent of Americans have been carrying monthly credit card debt for at
> least 12 months – a ten percent increase from 2021,” the outlet said.
>
> During a recent interview, Sen. Rand Paul (R-KY) reacted to an estimate
> that projects households will be forced to spend over $11,000 more this
> year to maintain the same standard of living:
Put the pets down and save money.
> Enter your email address
> SUBSCRIBE
> By subscribing, you agree to our terms of use & privacy policy. You will
> receive email marketing messages from Breitbart News Network to the email
> you provide. You may unsubscribe at any time.
>
> What we know for sure is that now we’ve lost more to inflation than they
> gave us in the form of free money. The inflation came from the free
> checks that were passed out. They shut the economy down. They sent free
> checks to everyone. And they said, oh, this will make up for it. But
> guess what? When people add up how much they’re paying for gas and the
> grocery store, it’s canceled out all the free money. And I don’t think
> the inflation’s over by a long shot.
>
> EJ Antoni, research fellow in regional economics with the Heritage
> Foundation’s Center for Data Analysis, spoke about the financial burden
> placed on Americans.
>
> “This financial catastrophe for American families is the direct result of
> a president and Congress addicted to spending our money, combined with a
> Federal Reserve compliantly enabling this addiction by printing more
> dollars,” he said.
>
> In addition, American voters trust the Republican Party over Democrats by
> a wide margin when it comes to the economy as the midterm elections
> approach, according to a recent Morning Consult poll.
There is no foundation to trust Democrats.
Ever.
Democrats lie every time their lips and fingers move.
Lustern <luster...@zombie.org> wrote:
>
> Go Brandon!
>
> "Americans Lost over $4K in Annual Income Thanks to President Biden:
> ‘Financial Catastrophe’"
>
> <https://www.breitbart.com/economy/2022/09/24/report-americans-lost-over-
> 4k-annual-income-thanks-president-biden-financial-catastrophe/>
>
> "Americans are bleeding money and struggling to make ends meet, thanks to
> President Joe Biden (D).
>
> “New economic numbers show that the average American has lost the
> equivalent of $4,200 in annual income under the Biden administration
> because of inflation and higher interest rates,” the Heritage Foundation
> said in a press release Thursday.
No mention of the loss of funds from 401ks. Some 401ks lost 25%-
35% of their entire value because of Biden incompetence.
> The foundation continued:
>
> Heritage experts calculated this shocking number based on different sets
> of data. Consumer prices have risen 12.7% since January 2021,
> significantly faster than wages, so that the average American worker has
> lost $3,000 in annual purchasing power. Further, as the Federal Reserve
> implements tighter monetary policy to reduce inflation, interest rates
> are rising. Higher rates have in turn increased borrowing costs on
> mortgages, vehicle loans, credit cards, and more. The higher interest
> rates and borrowing costs have effectively reduced the average American’s
> purchasing power another $1,200 on an annualized basis.
>
> Meanwhile, more Americans are shouldering credit card debt as inflation
> continues hurting families, Breitbart News reported Wednesday.
>
> “In a recent survey from CreditCards.com commissioned by YouGov, 60
> percent of Americans have been carrying monthly credit card debt for at
> least 12 months – a ten percent increase from 2021,” the outlet said.
>
> During a recent interview, Sen. Rand Paul (R-KY) reacted to an estimate
> that projects households will be forced to spend over $11,000 more this
> year to maintain the same standard of living:
Put the pets down and save money.
> Enter your email address
> SUBSCRIBE
> By subscribing, you agree to our terms of use & privacy policy. You will
> receive email marketing messages from Breitbart News Network to the email
> you provide. You may unsubscribe at any time.
>
> What we know for sure is that now we’ve lost more to inflation than they
> gave us in the form of free money. The inflation came from the free
> checks that were passed out. They shut the economy down. They sent free
> checks to everyone. And they said, oh, this will make up for it. But
> guess what? When people add up how much they’re paying for gas and the
> grocery store, it’s canceled out all the free money. And I don’t think
> the inflation’s over by a long shot.
>
> EJ Antoni, research fellow in regional economics with the Heritage
> Foundation’s Center for Data Analysis, spoke about the financial burden
> placed on Americans.
>
> “This financial catastrophe for American families is the direct result of
> a president and Congress addicted to spending our money, combined with a
> Federal Reserve compliantly enabling this addiction by printing more
> dollars,” he said.
>
> In addition, American voters trust the Republican Party over Democrats by
> a wide margin when it comes to the economy as the midterm elections
> approach, according to a recent Morning Consult poll.
There is no foundation to trust Democrats.
Ever.
Democrats lie every time their lips and fingers move.
Mary E. Junck Chairman
Dec 30, 2022, 10:42:55 AM12/30/22
to
0 new messages