People are flocking to social media after President Joe Biden released a statement on the back of the Third Quarter 2023 GDP Report, declaring significant economic growth.
The economy is up 4.9%
The President wrote, “I always say it is a mistake to bet against the American people, and just today we learned the economy grew 4.9% in the third quarter. I never believed we would need a recession to bring inflation down – and today we saw again that the American economy continues to grow even as inflation has come down.”
He continued, “It is a testament to the resilience of American consumers and American workers, supported by Bidenomics—my plan to grow the economy by growing the middle class.”
Wealth for American families has grown
However, news of Biden’s statement didn’t sit well with many Americans, especially as the President announced that “median wealth for American families has grown by a record amount accounting for inflation.”
People had something to say
One person simply wrote, “My groceries are up, gas prices are up, utility bill is up.”
Combating inflation takes three jobs
Another person explained the difficulty people are facing to keep up with the price hikes, stating, “Thank you, Joe. My neighbors are working three jobs to keep those unemployment numbers down and to increase their real wages to combat inflation.”
Another angry person commented, “Those phony statistics mean nothing to people. What they see are sky-high prices at the grocery store and gas they can’t afford.”
What about savings
One person was concerned about savings, noting, “Shouldn’t we have community notes on this? Real wages lag so far behind inflation, its silly. Also; SAVINGS DO NOT INCREASE AT ALL. Making savings meaningless means people can never retire or buy what they want because it has gone up in price.”
Not the whole story
Another person thought Biden was completely out of touch with reality, stating, “Ah, yes, the classic ‘Let’s pat ourselves on the back for stats that don’t tell the whole story’ tweet. Meanwhile, back on Earth, many are still struggling with the rising cost of education, healthcare, and housing. But hey, unicorns and magical fairies are doing great!”
Someone else agreed with the aforementioned comment saying, “Are you out of touch with real Americans? If you want to hide behind numbers, fix these: The price of gas, the price of food, the price of electricity, the interest rate on a credit card, the average amount of credit card debt, the interest rate of a mortgage and the cost of housing. Get those in order, then tell us how great it is.”
Nothing but lies
A person who was struggling with the current economic climate said, “I’m actually living the middle class right now Joe, and your lies do not deceive me! These last 3 years have been the hardest years of my life thanks to you and your corruption.”
People are struggling
Some thought that Biden was not addressing the real concerns of struggling Americans, noting, “Families struggling to pay bills and maxing out their credit do not quite see it this way. You know the truth is that expenses are outpacing wages. Rather than address the concerns Americans have you spin it.”
What about retirement?
Another angry commenter noted, “The middle class is shrinking, INFLATION IS GOING UP MUCH FASTER THEN WAGES, AND SAVINGS ARE BECOMING MEANINGLESS!!! 72% OF MIDDLE CLASS FAMILIES SAY THEY CANT SAVE FOR RETIREMENT. Americans CREDIT CARD DEBT IS AT AN ALL TIME HIGH!”
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