“Americans Feel Better off Financially”: Biden Boldly Claims Americans Feel Wealthier Under His Leadership

Jo ShawNov 28, 2023

Minute Read

President Biden recently remarked on the September Jobs Report and National Manufacturing Day that “Americans feel better off financially” under his Presidency. However, a recent survey conducted by CNBC and figures from the US Treasury state otherwise. At the same time, others have accused Biden of blatantly turning a “blind eye.”

“Americans Are Smart as Hell”

During his remarks on the September Jobs report, President Biden was asked by the press why he thought most people still didn’t “feel positive or feel good news about the economy.” Biden replied, “You just heard the news today, too. They haven’t heard it. I think the people — those 300-plus-thousand people who got jobs feel better about the economy.” Biden continued that the “American people are smart as hell in knowing what their interests are.”

“It’s a Fact” They Know They’re “Better off Financially.”

Editorial credit: Evan El-Amin / Shutterstock.

“I think they know they’re better off financially than they were before. It’s a fact,” Biden stated.

Biden Thinks Polls Show Positivity

“And all the — all that data — all that polling stuff shows they think — they’re more positive about the economy than they’ve been, more positive about their jobs, et cetera,” Biden continued to answer the reporter’s question.

Americans Are Stressed Over Personal Finances

However, in a recent survey conducted by CNBC in September called “Your Money Survey,” public opinion did not align with Biden’s claims. “The survey, which polled over 4,000 adults in the U.S., finds that three-quarters of working Americans (74%) say they are stressed about their personal finances these days, which is slightly higher than the last Your Money survey (70%),” the CNBC article read.

Living Paycheck to Paycheck

It also stated, “more than half of Americans (61%) consider themselves to be ‘living paycheck to paycheck,’ up from 58% in March of this year.”

Homeowners Feel Less Stressed

Furthermore, the survey showed that homeowners felt less financial stress than those who were not homeowners, “with only thirty percent of homeowners saying they are “very stressed” compared to almost half of those who do not own a home (46%).”

Inflation a Major Contributor to Stress

61% of Americans cited inflation as the primary contributor to their financial stress. The CNBC article stated that inflation holds “the top spot as the primary financial stressor.”

Less Than 40% Say Biden Helping With Personal Finances

The survey also revealed that fewer people approved of how Biden was helping with their personal finances, with only 36% favoring Biden, in contrast to the 60% who disapproved.

Half of Americans Need to Earn $5,000 Extra

In an interview with the press, Karen Petrou, co-founder and Managing Partner of Federal Financial Analytics, Inc., recently said that half of the lowest-earning US households “would need to earn $5,000 more just to buy the same things it could the year before the pandemic.”

The Deficit for FY 2023 Rose by 23%

Creating more troubling times for Biden, the Department of Treasury recently released a statement highlighting the deficit for the 2023 fiscal year hit a total of $1.7 trillion, a rise of 23% from the previous year.

“Honey, It’s Going to Be Okay.”

By quoting his father, Biden continued to remark on his economic success. “My dad had an expression. He’d say, ‘Joey, a job is about lot more than a paycheck. It’s about your dignity. It’s about respect. It’s about being able to look your kid in the eye and say, ‘Honey, it’s going to be okay,’ and mean it.”

More Americans Can Say It, and Mean It

“Well, 336,000 more Americans — if they have children — can say that to their children and mean it,” Biden stated.

Bidenomics Has Reduced Unemployment

“We have the highest share of working-age Americans in the workforce in 20 years.” And it’s no accident. It’s Bidenomics.” The President declared as he continued to push his successes in generating more jobs.

815,000 New Jobs Created Under Biden

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“We’re growing the economy from the middle out, the bottom up — not the top down. And today, I want to highlight that of those 13 million manufacturing jobs, 815,000 of those jobs were created since I took office — twice as many as the previous administration,” Biden said, hitting back at his rival Trump’s previous Presidential term. “Folks, Bidenomics is about investing in America and investing in American workers.”

Federal Debt Increased by 50% Under Trump

Biden continued to hit out at Trump by stating he was giving tax breaks to the rich, “federal debt went up by 50 percent under my predecessor in part because he passed a $2 trillion tax cut overwhelmingly skewed to the very wealthy and large corporations,” Biden said.

Biden Stopped Trickle-Down Economics

“I came into office determined to change the economic direction of this country, to move from trickle-down economics,” he stated.

Americans Care About Grocery Prices

However, the mood of consumers was not so optimistic, as one online user posted, “…Americans care about grocery prices. Americans care about high gas prices. Americans care about being able to afford a home or rent.”

Inequality Is a Driving Factor

Another post read, “Inequality is driving this disconnect. Just because GDP and unemployment numbers are favorable does not mean that an average wage earner feels financially secure. What appeals to economists and policymakers does not necessarily appeal to those already living under financial strain.”

Is Biden Turning a “Blatant Blind Eye?”

Another user accused Biden of ignoring inflation and the costs incurred by the average consumer: “My power bill is 3x what it was a year ago, groceries are 2x as expensive….This blatant blind eye to stagnate wages and rampant inflation is why Americans don’t believe the obvious lie,”