Texas

Fact Check: Biden’s Take-Home Pay Raise Claim Doesn’t Account for Previous Inflation

From Politifact:

President Joe Biden answered reporters’ questions on Jan. 12 about the discovery of classified documents at his think tank office and his home in Delaware. But instead, he sought to announce the positive development of the problem that plagued him during his presidency: inflation.

“You know, and as inflation comes down, workers’ wages go up,” Biden said. “Wages for workers are now higher than they were seven months ago, adjusted for inflation.”

Over the past two quarters, wage growth has outpaced inflation. Before then, however, wages had lagged far behind inflation, and recent improvements have not yet dug that hole.

Non-inflation-adjusted raw wages have risen every quarter of a Biden presidency and at a generally higher rate than wages under his predecessor, Donald Trump.

But once you adjust for inflation, a lot of that income disappears. Real wages — that is, wages adjusted for inflation — fell or remained flat during the first six quarters of the Biden presidency.

However, over the past two quarters, real wages have changed dramatically. …

Radio interview prepared by Sean Saldana

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