Since President Joe Biden entered office three years ago, Bidenflation has taken a severe toll on Americans.
Due to his far-Left policies, Americans' wallets have gotten slimmer while the prices at grocery stores and gas pumps increase.
According to a new report released by the U.S. Census Bureau, the number of Americans living below the poverty level has risen for the first time in years.
In 2022, 12.4 percent of the population lived at or below the poverty level, a stark increase from 2021, when 7.8 percent lived in poverty.
The data also found that inflation surges outpaced the average pay raises of U.S. workers in 2022, counting for the third consecutive year under Biden that paychecks didn't go as far as they once did.
Inflation-adjusted median household income suffered a 2.3 percent decline, adjusting to $74,580 in 2022— compared to in 2021, the average was $76,330.
It has fallen by 4.7 percent since its high point in 2019, a year before Biden took office.
In addition, the Consumer Price Index was 6.5 percent higher than last year, according to a report released by the Labor Department.
Since Biden took office, inflation has risen 13.7 percent since the beginning of 2023.
"Inflation accelerated significantly again last month, demonstrating the crisis of runaway prices is still ongoing," Job Creators Network President and CEO Alfredo Ortiz said in a statement. "This accelerating inflation, which is nearly twice the Federal Reserve's target rate, is another Bidenomics blow to ordinary Americans and small businesses dealing with rapidly rising prices that are lowering their real wages and living standards for two and a half years."
However, Biden continues to gaslight Americans, insisting his economic plan works.
"This morning, we have some good news," Biden said in a speech. "We still have more work to do, but we're clearly moving in the right direction, and there's more breathing room in store for American workers and families."
On the contrary, a recent poll found that Americans trust former President Trump more than Biden on the economy by a 47 percent - 36 percent margin.