‘Muricans in our oligarch-looted economy are burning through their savings as inflation destroys their purchasing power and standard of living. What happens when the residual savings run out & the credit cards get maxed out? This “build back better” isn’t all it’s cracked up to be….
President Biden’s claim that Americans are saving more since he took office has been exposed as a lie by data showing how inflation has eaten into rainy-day funds.
New statistics from Federal Reserve Economic Data (FRED) showed that in May this year, the average American had just 5.4 percent of their pay check left to save after covering their living expenses.
That amount is known as the National Personal Savings rate.