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140

After searing inflation, "American workers are getting ahead," Treasury Secretary Janet Yellen says (www.cbsnews.com)

submitted 9 months ago by [email protected] to c/[email protected]

59 comments fedilink hide all child comments

As of the end of 2023, the typical U.S. worker could afford the same goods and services as in 2019, prior to the pandemic, and had an additional $1,400 to spend or save per year, according to a January analysis by Treasury officials.

Demar Byas of Pontiac, Michigan referred to experts touting the nation's economic performance as a "slap in the face."

"You're celebrating these numbers, but we are struggling," said Byas, who juggles several jobs to make ends meet. "It's no relief in sight, and just say those numbers and to celebrate that, and as I said stuff becomes a slap in the face."

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[–] [email protected] 20 points 9 months ago (1 children)

I am?

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[–] [email protected] 2 points 9 months ago (5 children)

Where the stats they use. Are they following one family or an entire town in bumpkins-ville-field-ton to make these statements. Taxes aren’t even due, earnings reports mean diddly from companies who have hit “record profits” after global pandemic. Whose ass do these economists sniff to get this numbers crunched. We still have variances in from 350$k earners hiding money, all while people less than 100k$ can afford to put down payments for cars, houses, food, credit cards, student debt.

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[–] [email protected] 27 points 9 months ago (2 children)

Janet Yellen takes money from Goldman Sachs and many other K-street banks and continues to do their bidding.

All while unabashedly lying and shitting all over the American citizenry.

She’s been lying about inflation for YEARS now. She thinks we are clueless.

[–] [email protected] 8 points 9 months ago* (last edited 9 months ago)

Why are you booing him? He’s right!

[–] [email protected] 10 points 9 months ago (1 children)

Correct.

[–] [email protected] 10 points 9 months ago* (last edited 9 months ago) (2 children)

Apparently Yellen has some fans in here who dislike facts/history.

So fucking weird, it’s all verifiable information. I’m sick and tired of being gaslit. This administration actually changed the definition of RECESSION

Every administration lies, but it has gotten completely ridiculous.

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[–] [email protected] 81 points 9 months ago (1 children)

Yeah I don't think this is something they're gonna be able to talk people into lol. The economy might be doing okay, but that means fuck all for the average Joe.

[–] [email protected] 3 points 9 months ago (13 children)

It always takes time for these sorts of numbers to permeate society and for people to feel a difference. This is why inflation might feel like it's more acute today when it's down to 3% than when it was at 8%, because it took time for those costs to sink in. As prices have stabilized and wages are still rising, people are going to start feeling a bit better about their economic positions, but it's going to take time for them to feel it

[–] [email protected] 45 points 9 months ago (5 children)

Still, when you say "wages are still rising" you mean companies are, on average, offering slightly higher pay to new hires. That doesn't help anyone who has been working the same job since covid started. All they see are higher prices. Averages can be useful metrics but this particular average means fuck all to a huge chunk of working people.