Biden Brags ‘Real Disposable Income Increased’ – But, Doesn’t Mention Real Earnings Fell – By Craig Bannister (CNS News) / May 2, 2023
President Joe Biden recently boasted that real disposable income was up in the first quarter of 2023, but he neglected to note that, due to mitigating factors like high inflation, Americans actually have less real earnings than they did a year ago.
“This past quarter, real personal disposable income increased and American consumers continued to spend, even as the overall pace of growth moderated,” Biden said in a statement and a tweet last Thursday.
While true, monthly real disposable income peaked at $19,213 in Biden’s second month in office (March 2021) and steadily declined until it began to gradually tick higher last July.
At $15,660, real disposable income last month was still about thirty-five hundred dollars lower than it was in March of 2021.
