Steve Forbes tells Newsmax that Americans are earning less under the Biden administration

Forbes editor-in-chief Steve Forbes told Newsmax that ordinary Americans are making less under President Joe Biden than when former President Donald Trump was president.

Joining “Rob Schmitt Tonight” Wednesday, Forbes said upper-income Americans are helping drive the economy with their spending, while lower-income Americans are beginning to face hurdles.

“In the name of helping the people, they hurt the people — especially those who have the least,” Forbes said of the Biden administration’s economic policies.

Normal people now “have to have a second job, perhaps a third job, to try to keep up with the bills,” he continued. “Average household income — median household income — is lower than it was when Donald Trump was in office.”

While Biden attempts to tout his economy over the past four years, “all you have to do is go to the store and try to buy something, pay an education bill, medical bill, and you’re behind the eight ball,” Forbes said.

The U.S. economy grew over 5% in the third quarter of 2023, even faster than previously estimated by the Department of Commerce, according to Axios. However, concerns about skyrocketing inflation remain.

JPMorgan Chase CEO Jamie Dimon is one Wall Street executive sounding the alarm, telling a crowd at The New York Times’ 2023 DealBook Summit Wednesday that a recession was not off the table.

“A lot of things out there are dangerous and inflationary. Be prepared,” Dimon warned, according to CNN. “Interest rates may go up, and that might lead to recession.”

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