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Record-high credit card debt is brutalizing “mostly lower- and middle-income Americans, who tend to be renters,” the far-left Associated Press reported.

The AP piece itself is a joke. Over and over again, it attempts to gaslight the American people into voting for another term of failed Bidenomics with statements like… “While the U.S. economy is broadly healthy” — and — “The U.S. economy is currently performing better than most forecasters expected a year ago.”

The AP wants us to forget the truth of how Bidenflation has gutted everyone’s purchasing power and the consequences of that:

Americans held more than $1.05 trillion on their credit cards in the third quarter of 2023, a record, and a figure certain to grow once the fourth-quarter data is released by Federal Deposit Insurance Corp. next month. A recent report from the credit rating company Moody’s showed that credit card delinquency rates and charge-off rates, or the percent of loans that a bank believes will never be repaid, are now well above their 2019 levels and are expected to keep climbing.

These worrisome metrics coincide with the average interest rate on a bank credit card of roughly 21.5%, the highest it’s been since the Federal Reserve started tracking the data in 1994.

Biden flooded a country that already has a housing shortage with roughly eight million illegal aliens… Biden flooded a country already dealing with crippling inflation with roughly eight million illegal consumers… Biden flooded a country already dealing with stagnant wages with roughly eight million illegal cheap employees…

“You have these noticeable pockets of consumers — mostly middle- and lower-income renters who have not benefitted from the wealth effect of higher housing prices and stock prices,” Warren Kornfeld, a senior vice president at Moody’s, told the AP. He added that these people “are feeling financial stress, and that’s driving up these delinquency levels. They’ve been hit very hard by inflation.”