President Joe Biden visited an ironworkers union in Ohio Wednesday, attempting to claim credit for saving workers’ pensions. Meanwhile, Biden ignored that millions of Americans have seen their 401(k)s and other retirement savings falter under inflation and massive market losses.
The stock market’s cratering has wiped out some $3 trillion in retirement savings this year, according to the Center for Retirement Research at Boston College. The average 401(k) dropped nearly $10,000 in the first quarter of 2022, according to one major fund manager speaking to The New York Post.
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