J. Biden is really losing his mind, he claims that Americans are better off financially with him…Reality disagrees [VIDÉO].
Published on 6.6.2022
When you’re crazy, it’s for life and when the inversion of values in their crazy worlds is always based on permanent lies. We could say that sometimes being senile could be hilarious and good, but that from the point of view of the dementia patient, because on the people side, it’s extremely different, because Joe Biden is lying by claiming that American households are better off under his administration than ever before.
Joe Biden is many things, but he is mostly a liar. His administration regularly lies and tries to mislead the public on all sorts of topics, but especially on economic issues. Whether claiming the creation of “new” jobs when in reality they are jobs temporarily closed by covid measures, or claiming that Putin’s war is responsible for the increase the price of gasoline, when it had not even started.
On Friday, however, Biden made perhaps one of his boldest lies yet.
During a speech at the White House, Mr Biden claimed that the average American household had reduced their debt levels while increasing their savings since taking office in January 2021.
“Today, thanks to the economic plan and the vaccine plan that my administration implemented, America has achieved the most robust recovery in modern history, just two years after the worst economic crisis since the Great Depression. “, he falsely claimed.
“Since I took office, families are less in debt; their average savings are on the rise”.
None of this is true. In April, the savings rate for Americans was just 4.4%, the lowest level since September 2008, during the global financial crisis that decimated the global economy. Such a sharp and severe drop in the savings rate means that continued spending is unsustainable and is usually a sign of an economy on the verge of collapse.
In addition, the debt is also higher. Total debt is $1.7 trillion (yes, trillion) higher than when the COVID-19 pandemic began, and since this time last year, consumer credit card debt increased by $266 billion, while mortgages increased by $250 billion, and another $11 billion in auto payment debt was accumulated.
In addition, real wages fell by 2.3% between April 2021 and April 2022.
Not even to mention inflation.
The US economy is not doing any better, and the average American household is not doing any better financially.
These are bold lies from Joe Biden, without any evidence, intended to distract from the fact that the average American is in the worst situation in over a decade.