Poor Joe Biden. Remember him?

He’s forgotten, but not yet gone. He tried to burnish his crumbling legacy yesterday by boasting how much money he spent and borrowed on programs like the American Recovery Act. He said it “was the largest” spending bill ever.

Our friend and budget expert, Paul Winfree of EPIC, summarizes the impact of this spending spree, highlighting what we call the three Ds of the Biden legacy: Debt, Deficits, and Declining Incomes.

Over the course of four years, government spending has increased by the equivalent of $36,100 per American household, tax revenues by $17,100 per household, and debt by $29,700 per household.

The Biden-Harris Administration’s policies have driven prices up and real wages down. Prices have increased by about 20 percent since January 2021, but wages have not kept up with rising prices. That means that the average worker has seen the purchasing power of their take home pay fall by about $2,230 since the Biden-Harris Administration’s policies began.