Democrats are panicking after they saw one shocking number about Joe Biden

Joe Biden’s Presidency has been a catastrophe for the Democrat Party.

They’re terrified he’ll bring down the entire Party.

And Democrats are panicking after they saw one shocking number about Joe Biden.

The economy is an absolute dumpster fire because of President Joe Biden’s socialist agenda. 

Inflation is running rampant, delivering a devastating blow to working class Americans as the cost of living soars.

Now, a new study reveals how expensive Joe Biden’s failed Presidency truly is for the average American.

An analysis from The Heritage Foundation found that the average American has lost the equivalent of $4,200 in income per capita from inflation and rising interest rates since President Biden entered the White House on January 20, 2021.

The Heritage Foundation’s report analyzed consumer price information and the Federal Reserve’s interest rates to determine the figure.

Since Biden took office in January 2021, consumer prices have skyrocketed by 12.7%, which Heritage estimates costs the average American $3,000 in purchasing power.

Inflation has grown so quickly under Biden that pay raises can’t possibly keep pace with it.

Rising federal interests have driven up the cost of mortgages, credit cards, and car loans, costing Americans another $1,200, according to Heritage.

EJ Antoni, a research fellow in regional economics with The Heritage Foundation’s Center for Data Analysis, said Joe Biden’s Presidency was leaving working class Americans poorer. 

“Simply put, working Americans are $4,200 poorer today than when Biden took office,” Antoni said. “This financial catastrophe for American families is the direct result of a president and Congress addicted to spending our money, combined with a Federal Reserve compliantly enabling this addiction by printing more dollars.”

Antoni told Fox News that the average household has lost $7,200 during the failed Biden Presidency.

The $4,200 losses under Biden have wiped out the $4,000 annual earnings increase American workers enjoyed during Donald Trump’s Presidency, The Heritage Foundation revealed.

“Washington recklessly spent trillions of dollars it did not have and paid for it with newly printed money, causing rampant inflation that has destroyed people’s purchasing power and jeopardized Americans’ financial futures,” Antoni said.

With Americans struggling to make ends meet in the Biden economy, more and more people are taking on debt to get by, and that’s only getting more expensive with the Fed constantly raising interest rates.

“We are in a vicious spiral, but it’s one of Joe Biden, the Democrat-controlled Congress, and the Fed’s own making,” Antoni said.

The Heritage Foundation’s analysis also found that the $4,200 in lost income has surged from their July figure of $3,400 in lost income.

Democrats are desperately trying to change the subject from Joe Biden’s disastrous economy heading into November’s Midterm elections.

But Americans’ wallets are taking a major hit in the Biden economy as they watch their purchasing power erode.

Joe Biden and Democrats won’t be able to outrun the tremendous harm they’ve inflicted on Americans with their disastrous economic agenda.

Stay tuned to Conservative Underground News for any updates to this ongoing story.