Census Bureau: Income dropped, poverty soared under Biden – IOTW Report

Census Bureau: Income dropped, poverty soared under Biden

JTN: Despite the Biden administration’s efforts to tout the alleged successes of “Bidenomics,” a report from the United States Census Bureau has revealed that many Americans saw their economic situation deteriorate dramatically in the first half of Biden’s term.

While the official poverty rate hovered around 11.5% in both 2021 and 2022, according to the report, the Supplemental Poverty Measure (SPM) increased 4.6% in 2022 to reach 12.4%, marking the first overall increase in that metric since 2010. In total, 37.9 million Americans lived in poverty in 2022. The report partially attributed the increase to the expiration of tax credits credits and pandemic stimulus payments.

Income, meanwhile, dropped across an array of metrics. Real median household income declined by 2.3% from $76,330 to $74,580, while real median earnings of all workers dropped 2.2%. The drop was less severe among full-time, year-round workers, who saw a 1.3% decline. Inflation soared 7.8% from 2021 to 2022, marking the largest single-year increase in cost of living since 1981. read more

14 Comments on Census Bureau: Income dropped, poverty soared under Biden

  1. BIDEN IS NOT ONLY THE WORST (UNELECTED) POTUS EVER, HE’S REALLY REALLY LOW ON THE AWFUL HUMAN SCALE

    YET WE SUFFER HIM DAILY, AND THE MEDIA CLAIMS THAT HE IS SAVING AMERICA

    WHEN CAN WE DRAW SERIOUS BLOOD???

    SO MANY ASS*****TIONS NEED TO HAPPEN TO SAVE AMERICA

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  2. I retired and my wife is retired. We could live comfortably off my military retirement and her school teacher retirement where we had $75k in the bank back 3 years ago. I had a $1.2 million 401K that is now worth $830k. A year ago I had to start pulling from the savings account to keep the same level of living. I am down to a $65k bank savings cushion. The savings transfer has been a little more every month. Have you noticed that a pound of 25 count shrimp is cheaper than a pound of rib-eye? When ever in history has that happened before?

    I should be living a very comfortable retirement but Biden has fucked the economy and severely damaged my savings. It is not “Build back better” but “Fuck up America” with Biden (Obama) in office.

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  3. “Bidenomics” is a complete success. Every traitorous ass in government is stealing hand over fist and giving 10% to the Big Guy.

    Which of those assholes in both Houses of Congress voted against mountains of cash for Youkraine?! Very few because they all feast at that trough somehow. May they all have Brandon-like aneurysms burst in their sleep tonight.

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  4. The coming-impeachment of the KKK Joe Biden lowlife’s targets are actually the middle class and minorities, blacks in particular. Not surprising by a crime-driven quacking duck such as white privilege white supremacist endorsed-by-nazigroups-and KKK Joe Biden. Add that Biden (stupidly) thinks he falls into the white-elitist group and gives himself permission to commit crimes and treason.

  5. and on top of the wages issues, the dollar value’s been cut in half
    prebiteme a roll of electrical tape was $3.50 it now costs $8 & groceries prices are so expensive food banks are running out of food

  6. Same goes for theft and scams. The aged-out dinosaur and left-leaning AOL email provider is an “ally” of Soros and KKKJOe Biden and has been found pilfering users’ personal and financial information. Reports indicate that AOL has been reorted to federal authorities while users are strongly advised to dump the withered thing for a vpn-driven email host such as protonmaildotcom and others.

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