Americans’ Real Personal Income Declines as Biden Pay Cut Reduces Living Standards

Press ReleaseJanuary 28, 2022

Washington — Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to the Bureau of Economic Analysis’ Personal Income and Outlays release this morning showing declining real personal income, disposable personal income, and personal consumption expenditure:

“President Biden is trying to take credit for GDP growth that is a result of a low pandemic baseline and reckless government spending. But he can’t run from today’s release showing that Americans’ real personal incomes are falling due to the worst inflation in 40 years. Disposable personal income and personal consumption expenditure are also declining after adjusting for inflation. This data confirms what ordinary Americans already know: Living standards and incomes are falling under Biden. This Biden pay cut destroys any claims the president makes about the economy being strong.”