By Taxpayers Association of Oregon Foundation,
The Biden administration and the media have been repeating the claim that net-worth for Americans have been rising.
At the same time, they also talk about how publci polls show that average Americans are not favoring current economic conditions. This has led some to speculate that the publci is simply misinformed on their own economic condition. As date from the Federal Reserve Bank of St. Louis reveals, is that net-worth may be rising (left), but net-worth adjusted for inflation has not (right). Prices and inflation rose faster than people’s paychecks.
The only way to make this more clear is to compare the first months of the Biden Administration with the similar first months of the Donald Trump administration to show in recent times the comparisons.
The media needs to spend more time in the lives of ordinary people to get this perspective, because they can explain very well how they have lost purchasing power.
