Under Democrat President Joe Biden’s leadership, America has just suffered the first rise in the U.S. poverty rate in 13 years.
The news is just the latest failure of the president’s so-called “Bidenomics” policies.
Under “Bidenomics,” a staggering 12.4% of Americans lived in poverty in 2022, according to the U.S. Census Bureau.
The figure is a huge increase from 7.8% in 2021.
In fact, it was the first time the U.S. poverty rate had increased in 13 years.
That news comes as the Census also reported that the U.S. real median household income decreased by 2.3% to $74,580 in 2022.
Meanwhile, Fox Business reports that year-over-year inflation rose 7.8%.
The Biden administration has long claimed that his policies are working.
The Biden White House insists his spending plans have juiced the economy, despite the American people seeing otherwise.
Meanwhile, prices have increased more than 17% since he took office.
Gm. pic.twitter.com/WfjjLmJesX
— Tim Meads (@TimMeadsUSA) September 19, 2023
In August, inflation continued to tick upward.
In a statement given to Townhall.com, Job Creators Network President and CEO Alfredo Ortiz said:
“This accelerating inflation, which is nearly twice the Federal Reserve’s target rate, is another Bidenomics blow to ordinary