On Friday, President Joe Biden stood in front of the world and regurgitated so many lies that one has to wonder if his speechwriter borrowed Hunter’s pipe.
For starters, Biden suggested that “families are carrying less debt” and “their average savings are up” since he took office, adding that “more Americans feel financially comfortable.“
Nope – the personal savings rate has plummeted, while outstanding (revolving) consumer credit has sharply risen since January 2021.
Meanwhile, a May survey from the American Psychological Association revealed that Americans are more stressed out about money than ever.
“Eighty-seven percent of Americans said that inflation and the rising costs of everyday goods is what’s driving their stress,” said Vaile Wright, senior director of health care innovation at the American Psychological Association.