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Two-Thirds of Americans Say Bidenflation Is Eating Through Their Savings

Posted on AllSides June 17th, 2022
From The Right

Two-thirds of Americans say inflation is forcing them to stop saving and dip into their reserves, a Monday Forbes survey showed.

Under the Biden administration, rising prices have caused 67 percent of Americans to take money out of their savings accounts. Americans had saved around $2.5 trillion during the COVID-19 pandemic. Higher consumer prices and lower wages have caused 36 percent to spend a small amount from their savings, 23 percent to substantially deplete their savings, and 8 percent to completely drain their savings.

As fears of an impending recession rise, nearly three-quarters of Americans...

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