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Census data released Thursday shows Americans are financially worse off than four years ago, according to reporting by The Daily Wire
Adjusted for inflation, average household income fell by $1,221, and the percentage of households earning less than $10,000 rose from 4.3% to 5.3% since 2019. Additionally, fewer households are earning $75,000 or more, with a 0.2% decline in those making $150,000 to $200,000, while higher earners remained unchanged.
The Census data is a setback for Vice President Kamala Harris, whose campaign promises to tackle inflation. Critics, including former President Trump, highlight the inflation surge under the Biden-Harris administration. Inflation has severely impacted those on fixed incomes, with Social Security checks losing value and average retirement income down $2,450 from 2019, after adjusting for inflation.
More Americans are relying on government assistance, with households on food stamps rising from 10.7% to 12.2%. Despite this, poverty rates have worsened under the Biden administration. The supplementary poverty measure shows poverty increased each year, with 42.8 million people in poverty in 2023, up from 38.3 million in 2019 during the Trump administration.
Although poverty briefly declined in 2020 and 2021 due to pandemic-related handouts, the long-term impact has led to inflation, increasing poverty rather than reducing it. Government programs, like student loan forgiveness, have not helped alleviate poverty.
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