President Joe Biden told the largest federation of labor unions on Tuesday that he’s working to rebuild the U.S. economy around workers – while at one point falsely declaring that families have less debt and more savings than when he took office.
The speech before the AFL-CIO convention in Philadelphia was the president’s attempt to reset the terms of the debate on the economy as his own approval ratings have slid while consumer prices – and the cost of gasoline – have surged.
‘Since I took office, with your help, families are carrying less debt nationwide. They have more savings nationwide,’ Biden said.
But despite the president’s pronouncements, data from the Federal Reserve shows that household debt has increased by over $1.5trillion since Biden took office in January 2021.
– Read more at the Daily Mail