Biden’s economy is falling apart as Americans are struggling to make ends meet.
ABC News reported:
U.S. consumer credit card debt has jumped to nearly $1 trillion, the Federal Reserve Bank of New York said on Thursday.
Credit card balances increased more than $60 billion over the three months ending in December, lifting the total amount of U.S. credit card debt to an all-time high of $986 billion, the report found.
The skyrocketing credit card balance has coincided with an increase in the interest rates paid on such debt, crunching household budgets as high inflation eats away at the savings that many amassed during the pandemic.
Americans are falling behind in Biden’s economy with low-paying jobs, 40-year-high inflation, and a loss in the value of their net assets due to inflation pushing prices to record highs.
As a last resort, Americans turn to their credit cards to get by, hoping they will be able to pay them off next month. This cycle is maddening for Americans who work hard and can’t seem to get ahead. Now, they are falling behind.
Read more here: https://www.thegatewaypundit.com/2023/02/biden-economy-record-us-credit-card-debt-nearly-1-trillion-as-americans-struggle-to-survive/
