Inflation is more than a hidden tax on family incomes.
It’s also shrinking savings and forcing one-in-four Americans to delay their retirement plans, according to a survey conducted by BMO Harris Bank in April. The giant stock market sell-off in April and May has also liquidated trillions of dollars of funds in retirement accounts.
A full 36% of those surveyed have reduced their savings and 21% are stashing away less for retirement in order to keep up with growing costs.
Yet, Biden is still running around the country reading a teleprompter that says he has increased Americans’ savings.