Please note a review of the Survey of Consumers University of Michigan website did not match to Biden’s claims.
After claiming to have fixed the economy, Biden then blamed corporate greed for the current state of affairs.
“It’s real,” Biden replied, adding, “But the fact is that if you take a look at what the people have, they have the money to spend; it angers them and angers me that you have to spend more. For example, the whole idea of this notion Senator [Bob] Casey [of Pennsylvania] talked about, shrink inflation. For example, Snickers bar they did a thing, and it’s like 20% less for the same price. That’s corporate greed, it is corporate greed. And we’ve got to deal with it.”
Current state of Economy
Credit card debt is up 38.7% since Biden took office. 65% of Americans are living paycheck-to-paycheck. Records are also being set for the number of people unable to afford rent.
Credit card interest rates now average 27.64%. That’s almost double the 14.6% average when Biden took office. The 30-year home mortgage rates have increase 2.65% to more than 7% in the same time frame.
