Biden Economic Chief Deese: Disposable Income for a Typical Family Is ‘Actually Up About 2%’

[mystery-ak]

Biden Economic Chief Deese: Disposable Income for a Typical Family Is ‘Actually Up About 2%’

Pam Key 14 Nov 2021

National Economy Council directory Brian Deese said Sunday on NBC’s “Meet the Press” that disposable income for a typical family is “actually up about 2%” when asked about soaring inflation.

Anchor Chuck Todd said, “I want to put up here, yes, we have an economic recovery, but inflation is now outstripping the wage gains. Year over year wages up nearly 5%, but the inflation basically eats all of it and then some. We’re starting to see some eating into savings. So you talk about the supply chain issue. Let’s start with the labor market. We have a massive problem in the labor market. Some of it is COVID-related. Some of it, we need more workers. is it time to open the immigration door?”

Deese said, “I’m glad you made the point about wages. There’s more to that statistic than meets the eye. If you look at the strong wage gains that have happened plus the direct support we’ve provided to families, checks in pockets, the disposable income is up about 2% even after you take into account inflation which is why we’ve seen checking account balances go up and credit card balances come down over the course of the year. That doesn’t reduce the frustration anymore when somebody is going to the gas station, and they see prices go up, but it does mean we are well-positioned to try to address these challenges going forward.”

more
https://www.breitbart.com/clips/2021/11/14/biden-economic-chief-deese-disposable-income-for-a-typical-family-is-actually-up-about-2/

[andy58-in-nh]

Lying with statistics: if the government measured inflation the way they did back in the 1970's and 80's, it now would exceed 10%.

But if you are willing to pretend that people don't really purchase the things that they actually buy, in the amounts and with the frequency that truly describes most people's experience, you can make a "case" that the economy is just great.

If only the serfs would stop their bitching.
 

[GtHawk]

  My income has not increased a wit, yet gas is now 415.9(don't you just love the nine tenths idiocy) versus about 2.59 under Trump, food, paper, clothes and electronics are all up in price yet somehow I have more disposable income under the direction of the Clown in Chief and his incompetents? Sorry unlike Deese I have to live in the real world not fantasy land. The problem that is rapidly increasing for Biden and his Clusterf*cks is that even the most ignorant American is aware that their spending power is rapidly being reduced under Biden and the democrats and no matter how much bullshit they spread no one is believing it anymore.

[Free Vulcan]

A 2% increase in our time! Inflation has been averted!