A total of $2.1 trillion has been wiped from Americans’ 401(k) plans just since the beginning of this year, according to Stephen Moore and E.J. Antoni. The average plan had $135,000 in it on January 1, and that figure has plummeted to $101,000, they said. Couple that with other dismal factors and President Joe Biden’s insistence the economy is healthy doesn’t seem to add up.
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