PolitiFact - President Joe Biden said incomes are up, but that ignores inflation

By Bill Adair • August 1, 2007

After the last of those spikes, which reflected the stimulus payments from the American Rescue Plan, disposable personal income has generally stagnated, and is down on a year-over-year basis by about 4% between July 2021 and July 2022. Dean Baker, co-founder of the Center for Economic and Policy Research, a left-of-center think tank, cautioned that economic data post-pandemic can be trickier than usual to analyze. Business closures during the pandemic resulted in disproportionate job losses for lower earners. Over time, those employees have come back into the workforce, but the shifting composition of the workforce has complicated point-to-point comparisons.

"It rose from an average of 34.4 hours in 2019 to a peak of 35 hours in January and is now back down to 34.5 hours," Baker said."My story on this is that when employers couldn't find workers, they had their existing workforce put in more hours. Now that labor is less scarce, they have moved hours back down to more normal levels. But fewer hours means less weekly pay."Biden said,"Incomes are up.

It's funny the first time politico corrects this president, you people lose your mind.

I can see where you’re going here but i really think that counts as half-true?

He’s lying:

Costs are way up too

Sorry. But he needs to stick to the hard facts - all the time! If his staff can't keep him current, replace them. The only thing we have over the patrinots is TRUTH!

Incomes are up. Period. Purchasing power (which IS impacted by inflation - though, differently depending on how one spends $$ [mortgage vs rent]- is impacted by inflation. This is NOT the same as income. Please, we rely on you to be accurate. Hire an economist.

So incomes are up but not up because of a general rate of inflation.

You’re really bad at this.

OK, but if you don’t factor in inflation, wages are up. I understand that set up against a backdrop of inflation driven by a pandemic, the net affect is down. However, wages and inflation should be viewed separately.

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PolitiFact - President Joe Biden said incomes are up, but that ignores inflationIn a Sept. 14 speech in Detroit, President Joe Biden said incomes are up. Once inflation is factored in, wages are down 4% compared with a year ago. Just the tip of the many lies he tells daily 😂😂😂 this has to be a tough one for your regime propagandist “fact checkers” to admit. Wow. The first time you fact checked Biden and didn’t cover for him. You are actually capable of being honest.
Source: PolitiFact - 🏆 17. / 71 Read more »