The White House and officials in President Biden's administration are claiming that Bidenomics is working despite a decrease in household income and an increase in the poverty rate. Data released by the United States Census Bureau on Tuesday revealed that the real median household income fell from $76,330 in 2021 to $74,580 in 2022, a drop of 2.3%. While the official poverty rate remained statistically unchanged from 2021 to 2022, the Supplemental Poverty Measure (SPM) rate, which measures the participation in government programs increased to 12.4% in 2022, up 4.6% in 2021. The Supplemental Poverty Measure child poverty rate more than doubled to 12.4% in 2022 from 5.2% in 2021, the data shows. During an early August interview with CNN, White House Press Secretary Karine Jean-Pierre said Bidenomics is "working" when people look at the data. "Costs is going down," she said. "When you think about inflation. When you think about wages going up. That is Bidenomics." US HOUSEHOLD INCOME FELL IN 2022 FOR THIRD STRAIGHT YEAR, CENSUS DATA SHOWS Inflation ticked higher in July as the consumer price index rose 0.2% in July from June, according to data from the Labor Department. The figure was slightly below the 3.3% forecast from Refinitiv economists. An August Fox News poll found that 52% of Americans feel that Biden has made the economy worse while 25% believe he has made it better. JEAN-PIERRE CONFRONTED WITH POLLS SHOWING 'BIDENOMICS' ISN'T POPULAR WITH AMERICANS When confronted with negative polling on Americans' view of Bidenomics, Jean-Pierre told the CNN host that polls "don’t show everything." She said the current state of the economy is reflective of damage caused by the pandemic. "Americans are coming out of a pandemic. We are dealing with a lot when you think about the economy. But here’s the thing, this is a president who has spent the last two years turning the economy around," she said. Fox News Digital reached out to the White House for comment. Fox News' Breck Dumas contributed to this report.
13 Eylül 2023 - 00:10
Biden admin claims economic policies are 'working,' but its own data paint a very different picture
The White House and other administration officials say that Bidenomics is "working" despite recent data from the Census Bureau stating that real median household income fell from 2021 to 2022.
13 Eylül 2023 - 00:10