Under President Biden, the average net worth for all families increased by 23%
- Thread starter Joe Capitalist
- Start date
Joe Capitalist
Racism is a disease
Exactly. Except, of course, when there's an (R) in the White House. The exact same statistics would then become gloriously accurate. Anyone "suffering" would be either lying about it, or it would be their own fault for being lazy slacker welfare thugs.
Exactly! She's a radical far right wing troll. Her duty as a far right wing troll is to make everything appear bleak so people will vote for the Republiclowns. Although she's doing a very shitty job.
Every three years the Federal Reserve outlines family net worth average and medians by age group.
https://apple.news/A2nXNQrL8T9OX-pqAzp1_FQ
Here’s the latest data, released in October 2023.
35 and under: average of $183,500 and median of $39,000
35 to 44: average of $549,600 and median of $135,600
45 to 54: average of $975,800 and median of $247,200
55 to 64: average of $1,566,900 and median of $364,500
65 to 74: average of $1,794,600 and median of $409,900
75 and older: average of $1,624,100 and median of $355,600
Overall, the average net worth for all families increased by 23%; meanwhile, the median net worth for all families increased by 37 over the same period.
MAGA soils diapers
BULLSHIT most live pay check to pay check
How Many Americans Are Living Paycheck to Paycheck?
A 2023 survey conducted by Payroll.org highlighted that 78% of Americans live paycheck to paycheck, a 6% increase from the previous year. In other words, more than three-quarters of Americans struggle to save or invest after paying for their monthly expenses.
https://www.forbes.com/advisor/banking/living-paycheck-to-paycheck-statistics-2024/
AND
Nearly half of young adults are still living with their parents
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Joe Capitalist
Racism is a disease
This message is hidden because volssuck is on your ignore list.
TOP
Retired Teacher
Of course there... were just not as many... and the struggle is much worse now...
Joe Capitalist
Racism is a disease
Until you provide proof of that, I'm going to assume you're lying your fucking ass off.
Which you tend to do with great regularity because you're a far right wing MAGA troll.
You see, sister, even though you're an admitted far right wing troll, you're not a very good one.
Your bullshit propaganda posts aren't changing anybody's mind. You're wasting your fucking time, sweetheart.
I know, they just say whatever.
PERSONAL FINANCE
Amid inflation, more middle-class Americans struggle to make ends meet
https://www.cnbc.com/2023/01/18/ami...ass-americans-struggle-to-make-ends-meet.html
More Americans Are Struggling Financially, as Inflation Takes a Toll
. Some 35 percent of Americans said they were worse off than a year earlier, up from 20 percent in 2021 and the highest share in the nine years the question has been asked. Just 19 percent of respondents said they were better off than a year earlier.
https://www.nytimes.com/2023/05/22/business/more-americans-struggling-inflation.html
TOP
Retired Teacher
Joe Capitalist
Racism is a disease
You have been shown proof from the NYT
BartenderElite
Verified User
Inflation - which started at the end of Trump's term, and is global - is the reason for that specific metric.
Other than that, Biden has been a great economic President. Close to 15 million jobs added, after the worst jobs President in modern American history.
Fact Check: Biden Misleads on Job “Creation” Statistics
Recovery versus “Creation.” Nearly 72 percent of all job gains since 2021 were simply jobs that were being recovered from the pandemic, not new job creation. In fact, when looking at today’s economy compared to pre-pandemic levels, employment is up only by 3.7 million.
Labor Force Participation Was Stronger Under Trump. The labor force participation rate remains 0.7 percentage points lower under Biden than it was when President Trump was in office. When adjusting for population gains, nearly 2 million more Americans are on the sidelines today than they were during the previous Administration.
Wages Are Not Keeping up with Biden’s Inflation Crisis. Real wages are down over 5 percent since President Biden entered the Oval Office.
On the other hand, prior to the pandemic, job creation under President Trump was 6.7 million—3 million more jobs than the current President.
https://budget.house.gov/press-release/fact-check-biden-misleads-on-job-creation-statistics
Joe Capitalist
Racism is a disease
Yup, the economy is doing great but the MAGA morons won't acknowledge it because they're busy sucking Trump's little dick.
Yahoo Finance: Daily record highs across the S&P 500 are telling investors this rally is broadening
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As the major indexes closed in the red on Wednesday, 43 stocks in the S&P 500 (^GSPC) still managed to hit all-time highs.
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In fact, record highs are piling up in 2024, with a solid 26% of all S&P 500 components (126 total) hitting at least one all-time high this year.
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BartenderElite
Verified User
It must get tiring trying to put a bad spin on so many jobs being added, or on the economy being good overall.
As you know, if Trump added as many jobs, and the stock market was breaking records - it would be the greatest economy in the history of mankind.
SmarterthanYou
rebel
Just because your shitty "annuity" didn't go up by much, if at all, doesn't mean that the rest of us aren't doing far better under the Biden administration than we all were under #TRE45ON's. A lot of that increase in net worth is due to home prices rising. Too bad your hovel decreased. Maybe fix that broken screen door leaning against the back "porch"?
Would you like me to send you some nice recipes you can make from cat food?
curious question.....why do people do that? unload hate and S.I.G.N language like that against others? do you get some sort of emotional thrill or satisfaction in deluding your self with fantasies of someones lower class status?
Cumulative job losses hit 23 million....in May of 2020
https://cew.georgetown.edu/cew-reports/jobtracker/
You say Biden added 15 million .....so no jobs were added
If u loose 23 dollars ......find 15 of it.... did u add more money or still in the hole
T. A. Gardner
Serial Thread Killer
Depends on whether you are using academic math, political math, male math, or female math...
The average/median family is not struggling. The average and median always have some people at the bottom with low family incomes.
Older people are always claiming "things have never been worse" or worse than they used to be. That is true of every generation. The same applies to those whose party choice is not holding the White House (but always improves when their party gets control).
QP!
Verified User
And add to that, the US under Biden has handled World Wide Inflation BETTER than any other country (we are literally #1) and we can only give Biden applause for that.
No Potus CAN or SHOULD be blamed for not stopping world wide inflation from impacting the US when the economies are so interconnected and the goods coming in to the US are increasing in cost steeply due to world wide inflation. The US is NOT immune from it.
Just as no Potus can stop a world wide pandemic coming in to the US.
How you measure the Potus effectiveness is in comparison to how others countries handled them.
Biden got us absolute top level performance in managing world wide inflation as compared to every top, 1st world nation.
Trump got us absolute bottom level performance in managing world wide covid, such that our peer group is mainly 'shit hole nations'.