10 Feb 2024 12:14 pm
The reality paints a different picture than those deep throating Bidenomics:
Americans Are In More Debt Than Ever Before — And It May Get Even Worse
Will Kessler
Household debt reached a new high of $17.5 trillion in the fourth quarter of 2023, with credit card debt and mortgages contributing the most to the increase.
Americans have been turning to debt to fund expenses as rising prices and high interest rates take a toll on consumers.
“The actual prices of goods on store shelves, as opposed to the static, sterile price indices concocted in Washington, D.C., make the reasons for which Americans are getting progressively deeper in debt perfectly clear,” Peter Earle, economist at the American Institute for Economic Research, told the Daily Caller News Foundation.
Americans Are In More Debt Than Ever Before — And It May Get Even Worse
Will Kessler
Household debt reached a new high of $17.5 trillion in the fourth quarter of 2023, with credit card debt and mortgages contributing the most to the increase.
Americans have been turning to debt to fund expenses as rising prices and high interest rates take a toll on consumers.
“The actual prices of goods on store shelves, as opposed to the static, sterile price indices concocted in Washington, D.C., make the reasons for which Americans are getting progressively deeper in debt perfectly clear,” Peter Earle, economist at the American Institute for Economic Research, told the Daily Caller News Foundation.