Listen To The Man! Record 34% Of All Household Income In The US Now Comes From The Government

Listen to the Man!

Under President Biden’s leadership, more and more Americans are dependent on government cheese (aka, personal income transfer payments0

Personal income transfer payments to person hit an all-time high as The Federal Reserve keeps pumping money into the system.

Government transfeer payments as a percentge of total income is now a whopping 34%.

US Personal Savings Rate is now 27.6%. Which means that the Biden Bonanza of transfer payments are ending up in savings, not being spent.

Biden’s government cheese helped increase personal income by 21.1% MoM, although personal spending increased by only 4.2%.

Will this end and see a return to the free market? Or is this the new normal of Uncle Cheese?

Uncle Cheese

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