Authored by Katabella Roberts via The Epoch Times,

Americans have lost over $4,000 in annual income since President Joe Biden took office owing to soaring inflation and higher interest rates, according to data compiled by The Heritage Foundation and released on Sept. 22.

In total, Americans have lost the equivalent of $4,200 in annual income under the Biden administration, according to the Washington, D.C.-based think tank.

The foundation said its experts calculated this "shocking" figure by looking at various sets of data: consumer prices data and the Federal Reserve's interest rates.