Average American Household Has Lost $7,200 In Income Under Biden

A satirical protest sticker critical of American President Joe Biden, with text reading I Did That, has been placed on a gasoline pump in Lafayette, California, likely to imply responsibility for high gasoline prices, December 29, 2021. (Photo by Smith Collection/Gado/Getty Images)

At a glance

  • “Simply put, working Americans are $4,200 poorer today than when Biden took office,” EJ Antoni, research fellow in regional economics with The Heritage Foundation’s Center for Data Analysis, said in a press release.
  • “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.”
  • Antoni also says the average household has lost roughly $7,200, a number calculated by doubling the inflation number of $3,000 and adding $1,200 in losses from interest rates.
  • “The $4,200 loss figure erases the average American worker’s real annual earnings increase of $4,000 that occurred during the Trump presidency, according to Heritage,” Fox Business reports.

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