Despite all of the daily struggles for most Americans, the spin from the White House is that the economy is doing great! Bidenomics is working because consumer spending keeps ticking higher.
But the fail to mention the main reason why. Consumer spending is up, because prices are up!
"Most people are recognizing that Bidenomics has actually given their families economic misery" said Joel Griffith, economist and research fellow at the Heritage Foundation, "You can have the White House press office spin the news every day, but American families realize it's costing them more to survive."
The sad reality is, most Americans are spending themselves into the poorhouse.
"That stat on it's own (consumer spending), makes it appear as if our economy is healthy" Griffith told KTRH, "If you look at the two other stats, credit card debt and savings, those are awful. We see the savings rate right now near an all-time low, and we see credit cards soaring. That is a recipe for economic misery."
Under Biden, the average American family has had their annual income reduced by roughly $5,200.