{"id":131101,"date":"2022-09-24T12:59:39","date_gmt":"2022-09-24T16:59:39","guid":{"rendered":"https:\/\/valorguardians.com\/blog\/?p=131101"},"modified":"2022-09-24T12:59:39","modified_gmt":"2022-09-24T16:59:39","slug":"soaring-inflation-wipes-out-over-4000-in-annual-income-for-average-american","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=131101","title":{"rendered":"Soaring inflation wipes out over $4,000 in annual income for average American"},"content":{"rendered":"<p style=\"text-align: center;\"><a href=\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/05\/Thanos-small-price-to-pay-bidenflation-biden-diet-bidenomics-gas-prices-shortages.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-125936\" src=\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/05\/Thanos-small-price-to-pay-bidenflation-biden-diet-bidenomics-gas-prices-shortages-300x150.jpg\" alt=\"\" width=\"300\" height=\"150\" srcset=\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/05\/Thanos-small-price-to-pay-bidenflation-biden-diet-bidenomics-gas-prices-shortages-300x150.jpg 300w, https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/05\/Thanos-small-price-to-pay-bidenflation-biden-diet-bidenomics-gas-prices-shortages-500x250.jpg 500w, https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/05\/Thanos-small-price-to-pay-bidenflation-biden-diet-bidenomics-gas-prices-shortages-768x384.jpg 768w, https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/05\/Thanos-small-price-to-pay-bidenflation-biden-diet-bidenomics-gas-prices-shortages-600x300.jpg 600w, https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/05\/Thanos-small-price-to-pay-bidenflation-biden-diet-bidenomics-gas-prices-shortages.jpg 813w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Analysis of consumer prices data, and Federal Reserve interest rates, lead experts at a conservative think tank to conclude loss of income for the average American. The experts estimated approximately $4,200 lost since Trump left office. Additional factors that influence higher interest rates contributed to a loss of $1,200 per year.<\/p>\n<p><strong><span style=\"color: #0000ff;\">From FoxBusiness:<\/span><\/strong><\/p>\n<blockquote><p>&#8220;Simply put, working Americans are $4,200 poorer today than when Biden took office,&#8221; EJ Antoni, research fellow in regional economics with The Heritage Foundation\u2019s Center for Data Analysis, said in a press release. &#8220;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.&#8221;<\/p>\n<p>Antoni told Fox News Digital that 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.<\/p>\n<p>The $4,200 loss figure erases the average American worker\u2019s real annual earnings increase of $4,000 that occurred during the Trump presidency, according to Heritage.<\/p>\n<p>&#8220;Washington recklessly spent trillions of dollars it did not have and paid for it with newly printed money, causing rampant inflation that has destroyed people\u2019s purchasing power and jeopardized Americans\u2019 financial futures,&#8221; Antoni said.<\/p>\n<p>Antoni explained that many Americans have taken on additional debt to cover their cost of living while rates on all kinds of consumer debts are rising. At the same time, mortgage rates and interest rates have doubled since Biden took office which is greatly increasing the monthly payments Americans are facing.<\/p>\n<p>&#8220;We are in a vicious spiral, but it\u2019s one of Joe Biden, the Democrat-controlled Congress, and the Fed\u2019s own making,&#8221; Antoni said.<\/p><\/blockquote>\n<p>FOXBusiness has additional <a href=\"https:\/\/www.foxbusiness.com\/politics\/americans-have-lost-4200-income-under-biden-wiping-out-trump-gains-heritage\">information<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysis of consumer prices data, and Federal Reserve interest rates, lead experts at a conservative think &hellip; <a title=\"Soaring inflation wipes out over $4,000 in annual income for average American\" class=\"hm-read-more\" href=\"https:\/\/www.azuse.cloud\/?p=131101\"><span class=\"screen-reader-text\">Soaring inflation wipes out over $4,000 in annual income for average American<\/span>Read more<\/a><\/p>\n","protected":false},"author":661,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[220,647,518,11,13],"tags":[],"class_list":["post-131101","post","type-post","status-publish","format-standard","hentry","category-the-floggings-will-continue-until-morale-improves","category-2022-elections","category-biden","category-economy","category-society"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/131101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=131101"}],"version-history":[{"count":0,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/131101\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=131101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=131101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=131101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}