Americans Have Lost $4,200 in Annual Income Under Biden Administration: Report

Thousands of U.S. dollars are counted out at a bank in Westminster, Colo., in a file photo. Rick Wilking/Reuters

Americans have lost over $4,000 in annual income since President Joe Biden took office owing to soaring inflation and higher interest rates, according to data compiled by The Heritage Foundation and released on Sept. 22.

In total, Americans have lost the equivalent of $4,200 in annual income under the Biden administration, according to the Washington, D.C.-based think tank.