If Biden's lips are moving he is probably lying

 Daily Caller:

Biden Takes A Blowtorch To The Truth With Household Debt And Savings Claim

...

 Biden boasted during a White House Address that the average American household has increased their savings and lowered debt since his inauguration, according to the White House briefing.

...

Data from the U.S. Commerce Department published May 27 showed the U.S. personal savings rate fell to the lowest point since Sept. 2008 in April, falling to 4.4%, reported Yahoo Finance.

Wells Fargo economists Tim Quinlin said the U.S. Commerce Department data would typically be a “warning sign” for future economic turbulence.

“In a typical cycle, a sharp drop in the saving rate would be a warning sign about the sustainability of spending,” Quinlin wrote in a note reported by Yahoo Finance. Quinlin said the savings forecast expects the rate to fall as low as 7.2% by the end of 2023.

The Bureau of Labor and Statistics that real wages continue to decline. “From April 2021 to April 2022, real average hourly earnings decreased 2.3%, seasonally adjusted,” the agency reported.

Consumer credit card debt rose from $266 billion to $15.84 trillion in quarter one of 2022, according to data from the Federal Reserve Bank of New York’s “Household Debt and Credit Report.”

“Balances now stand $1.7 trillion higher than at the end of 2019, before the COVID-19 pandemic. Mortgage and auto loan balances rose by $250 billion and $11 billion, respectively, in the quarter,” the NY Fed reported.
...

Americans are having to spend more on food and gas than at any time in history.  It is a constant reminder of the failings of the Biden economy. 

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more

Bin Laden's concern about Zarqawi's remains

James Robbins: ... Bin Laden suggests that President Bush should allow Zarqawi’s body to be returned to his family in Jordan, but this is a matter that is up to the Jordanian government, which so far has not shown much interest in facilitating a homecoming. Bin Laden mocks King Abdullah II, calling him a Coalition minion, and asking “w hat scares you about Abu Musab after he’s dead? You know that his funeral, if allowed to happen, would be a huge funeral showing the extent of sympathy with the mujahedin.” A large crowd would definitely turn out, though most people would be on hand to demonstrate their anger and disgust. Last November’s hotel bombings in Amman , masterminded by Zarqawi, are still fresh in people’s memory, and mentioning them to Jordanians has the same visceral impact as memory of the 9/11 attacks does here. Jordan has adopted a zero-tolerance policy towards those who choose to mourn the country’s least favorite son, and four opposition members of parliament who paid con
Read more