Average American Has Lost $34,000 From Retirement Plan Under Biden

A new analysis by conservative economists shows the average American has lost $34,000 from their retirement savings since President Joe Biden took office.
Screenshot: New York Post Video

A new analysis by conservative economists shows the average American has lost $34,000 from their retirement savings plan since President Joe Biden took office.

The news comes as Biden spent time at an ice cream shop over the weekend, munching on a chocolate chip waffle cone and telling reporters that the economy “is strong as hell.”

Economists Stephen Moore and EJ Antoni published their report in the New York Post, warning readers that a peek into their 401(k) plans “will ruin your whole day, week and month.”

Their analysis shows the average retirement plan is down about $34,000, which they note is “more than 25% in less than one year!”

Worse, the purchasing power of those plans has decreased significantly, down another $5,000, due to inflation.

RELATED: Report: Americans’ Retirement Accounts Have Lost Trillions – TRILLIONS – In 2022

Under Biden Your Retirement Plan is Lost

Moore and Antoni argue that under President Biden, lost finances in retirement plans are hurting the little people the most.

“A year ago, the White House insultingly tweeted out that inflation is merely ‘a high-class problem,'” they write. “Wrong.”

“The victims of ever-higher prices at the store and the gas pump are not the millionaires, but the little guys — and, in particular, older Americans — whose paychecks and savings accounts get walloped,” they add. 

To that point, they estimate retirement plans in all have lost $2.1 trillion – that’s trillion with a ‘t’ – while monthly savings have “collapsed” by 83%.

In summary, the economists state Biden’s inflationary disaster decimating your retirement plan – now over 8% for seven straight months after they told Americans it was “transitory” –  is comparable to theft.

“It’s not exactly the same as a bank robber with a gun stealing a quarter of the money in your bank account,” they surmise. “But at the end of the day, Bidenflation has had the exact same unhappy result.”

RELATED: Is Trump A Modern Day Nostradamus? Watch His Prediction Of What Would Happen If Biden Won

Is Biden Worried? Nah

President Biden, also over the weekend, dipped into a Baskin Robbins in Oregon and talked about the booming economy with reporters.

“I’m not concerned about the strength of the dollar, I’m concerned about the rest of the world,” he said.

Of course, as an America last globalist, why wouldn’t he be?

“Our economy is strong as hell,” Biden added, his brain seemingly frozen from the ice cream he was feasting upon.

The latest report tracks closely with others over the summer that estimated Americans’ retirement savings accounts have lost upwards of $3.4 trillion in total.

When asked over the summer whether the White House was concerned about Americans having their life savings wiped out, press secretary Karine Jean-Pierre bragged about the economy.

“We are incredibly focused on doing everything that we can to make sure that the economy is working for every — American people,” she said. “But we are coming out of the strongest job market in American history, and that matters.”

Meanwhile, former President Donald Trump tried to warn people what would happen if Biden ever set foot in the White House.

“Your 401(k) will drop down to nothing, and the stock market will drop down to nothing,” he cautioned.


While Biden feels the economy is “strong as hell,” several recent polls show just how out of touch with reality he truly is.

78% of Americans in a CNN poll rate the economy as “poor.”

Another 57% in a Harvard CAPS/Harris poll say their financial situation is actively getting “worse.”

Biden is under water on his handling of the economy by a consistent 20-point margin, and Americans say Biden is hurting instead of helping the economy by a 19-point margin.

Rusty Weiss has been covering politics for over 15 years. His writings have appeared in the Daily Caller, Fox... More about Rusty Weiss