US President Joe Biden recently announced new measures to decrease the cost of living under his administration.
During a press conference on Monday, the president revealed that he already has consulted with his competition council to get rid of what he describes as junk fees which include overdraft fees on the Americans’ credit cards or checking accounts.
“This council is going to come back to me with a plan for eliminating these fees. Families shouldn’t have to pay these fees. No one’s sneaking surprise charges into bills, like a $55 processing fee for a hotel room that you’re trying to book. A processing fee. You find out later. No more hiding the price that you’re paying. Now you’re going to know what the prices are. And all, it’s all taking money out of the pockets of average Americans.” Biden announced.
In January, Joe Biden: “the stock market…has hit record after record after record on my watch.”
Today: Stocks have lost $7.6 trillion in value since Biden took office. pic.twitter.com/a9LeRZrE9y
— RNC Research (@RNCResearch) September 27, 2022
The president then went on to celebrate what the democrats call his “victory lap” on his own administration’s economic performance.
According to Biden, Americans are now seeing increased incomes and added that the unemployment rate in the country has dropped significantly.
However, Analysts disagreed and blasted the president for his claim, arguing that Americans have lost over four thousand dollars in their annual income since the president took office. In addition, consumer prices have also increased by 12 percent since January of 2021 which, stripping buyers of at least three thousand dollars in purchasing power.
“Here’s what I want the American people to know: because of the resilience, the American people’s resilience, and because of the economic strategy we pursued, the united states of America is in a stronger position than any other country to navigate these global challenges. Period. Jobs are up, incomes are up. People are back to work. And American manufacturing is roaring back. Excuse me for the cough. We’re taking inflation very seriously by enacting policies to bring down costs for people,” the president added.
Furthermore, he went on to speak on his progress in bringing down the gas prices.
“In addition to that, a big part of how we’re going to keep making progress is by increasing competition in the economy. That’s why we have the competition council here, and it starts with energy prices. We’ve made historic progress. We’ve made historic problems with the price of gas down in dollar versus the some in some states is below three bucks,” Biden added.
