Joe Biden has set a number of grim records as President.
He’s inflicted unimaginable suffering on the country.
Now Democrats are frantic after they saw one jaw-dropping statistic about Joe Biden.
The economy is an absolute disaster under the failed leadership of Joe Biden.
After inheriting an economic recovery from the pandemic, everything has gone off of the rails.
Biden’s socialist spending spree unleashed the worst inflation in a generation, sending the cost-of-living skyrocketing.
After claiming that inflation was only temporary, the country was rocked with another 41-year high of 9.1% in the last inflation report.
Common household goods like food have increased by double digits in price, delivering a punch in the gut to consumers.
Now the incredible damage on Americans created by Joe Biden’s rampant inflation is being revealed.
A June report from LendingClub found that 61% of Americans, or roughly 157 million people, are living paycheck to paycheck.
That’s an increase from 58% in May and up from 55% this time last year.
This pain has even spread to the well-off, with 36% of people making over $200,000 a year living paycheck to paycheck.
A recent study from consulting firm Willis Towers Watson also found that 36% of people making $100,000 a year reported living paycheck to paycheck.
The Biden economy is hammering Americans from every walk of life with rampant inflation.
While wages are up for most Americans, they haven’t been able to keep pace with inflation, effectively giving most people a pay cut in the Biden economy.
LendingClub also found that the soaring cost of living is forcing more Americans to dip into their savings to make ends meet.
The average savings for adults dropped by more than $500 for the month of June.
With Americans struggling to make ends meet, credit card and other household debt is surging.
Credit card debt held by households climbed 13% in the second quarter, the biggest increase in over 20 years.
“The second quarter of 2022 showed robust increases in mortgage, auto loan, and credit card balances, driven in part by rising prices,” said Joelle Scally, administrator of the Center for Microeconomic Data at the New York Fed.
While Joe Biden has tried to claim all is well with the economy, the numbers paint a different picture.
Nearly two-thirds of all Americans are struggling just to make ends meet while inflation surges.
This is a major political problem for Democrats heading into the Midterm elections this fall.
Inflation and the economy are overwhelmingly the top issues for voters according to numerous polls.
Joe Biden owns the devastating inflation destroying America’s standard of living.
After inflicting so much misery on the country, Democrats are staring down a political day of reckoning this fall.
Renewed Right will keep you up-to-date on any new developments in this ongoing story.