Joe Biden is a disaster.
But now, his record just went from bad to worse.
And now, one stunning report reveals how Biden is crushing the middle class.
Joe Biden has plunged the United States into one of the worst economic disasters in modern history.
From a crashing economy and stock market, to soaring gas prices across the country, Biden’s policies have set America on a collision course with economic reality.
And Biden is only working to make things worse.
But now, after a year and a half in office, one shocking report shows just how Biden’s Left-wing policies have begun to destroy the American middle class.
CNBC reports, “Inflation has been causing economic hardship for workers across all income levels.As of June, 61% of Americans — roughly 157 million adults — lived paycheck to paycheck, according to a new LendingClub report. That’s up from 58% who reported living paycheck to paycheck in May. A year ago, the number of adults who felt stretched too thin was 55%.”
It’s clear that Biden’s policies aren’t just not helping America recover from the past two years, but they’re actively making the situation substantially worse.
Under Biden, the American people are poorer off than they were before he took office, and now, the statistics are pouring in to prove what most people have already known for well over a year.
“Although average hourly earnings are up 5.1% from a year ago, prices have been rising even faster, especially for groceries and — until quite recently — gasoline, so paychecks can’t stretch as far.
The Consumer Price Index, which measures the average change in prices for consumer goods and services, jumped a higher-than-expected 9.1% in June, the fastest pace since 1981,” adds CNBC.
But the problem is far worse than just inflation.
In fact, the statistics show that Americans are losing money at a rapid pace, and their savings are dwindling as a result.
“Taken together, this data shows Americans are shelling out more to cover their monthly expenses, making it increasingly difficult to make ends meet. As a result, they’re dipping into their cash reserves and nearly half are falling deeper in debt.
Among all consumers, average savings dropped to $10,757 in June from $11,274 in May, LendingClub also found,” adds CNBC.
In short, Biden is literally making Americans poorer.
Not only is inflation eating away at what savings people have in the first place, but those savings themselves are shrinking.
That’s why Americans are getting poorer by the day, and it’s also why Biden’s approval ratings are collapsing across the board. Because Americans understand that the Federal government’s inflationary policies are actively hurting them over time, and no amount of redefining the term “recession” or ignoring the real inflation rate can gaslight people into believing that their eyes are lying to them.
But rather than reverse course and work to change the devastating policies that have plunged the country into an economic crisis, Biden’s political allies are working to double down on the very policies that have made Americans poorer.