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Most Lib voters, & some Indy's too, don't care about bad economic news, they've already proven that Nov 8th, 2022.
We've had the highest inflation in 40+ years, by definition...we're in a recession, >1/2 live paycheck to paycheck, housing is less affordable than ever, homelessness is rampant, we're $31T in debt, & less Americans are working than we had in 2000.
If you think credit card debt surging 15% will change Libs minds, this election didn't teach you anything.
Please pay closer attention & try harder to listen to what Lib voters are telling the World. WE coud alide into a depression next year, & they'll still vote Blue in 2024. Need proof? See Detroit.
So instead of discussing economic factors and how the pandemic impacted the global and national economy -- you choose once again to hurl insults at the liberal voters, people who didn't vote like you.
It means nothing.
Of course credit card debt is going to surge during inflation and with interest rates going up.
But the credit card crisis started years ago. In 2019 we hit a credit card high that was bigger than 2009. Why is that?
And how could that debt be reduced given the eocnomic turmoil that started in March of 2020.....and yes continued with massive supply chain disruptions , severe shortage of oil production nationally and globally and the Ukraine war that furthers impact the cost of goods in Europe.
Trump wasn't reposnsible for the credit card debt in 2019. Because it happened in 2019, doesn't mean he is assigned the blame.
But if we are going to hear how rosy life was , let's look at the facts.
Can you speak to why the debt was the highest it had been since 2008 in 2019.
Speak to the issue not your feelings about the poeople that don't vote the same way as you.
And I do agree with the person who suggested while Republicans were touting inflation as the biggest issue, there was little presented on what the plan was to cut inflation.
problem with credit card debt is sthat the interest rates will make those balances surge.
So in 2019 the credit card debt was higher than it was in 2018. https://www.cnbc.com/select/us-credi...0%20billion,11.
U.S. credit card debt hit an all-time high of $930 billion
Debt surpassed the $870 billion peak during the 2008 financial crisis
Credit card delinquency rates increased .16% from the prior quarter to 5.32%
Younger Americans (18 to 29) have a 76% higher delinquency rate than anyone else
Then the pandemic hit. The feeling was that the govt. handouts kept people afloat...and it maybe helped them to minimize their debt.....but eventually those handouts ran out. Then interest rates were hiked.
So inflation, incresed interest rates & the exponential impact of carrying debt from 2019....it will hurt.
But it is naive to think that before Biden debt was being well managed by Americans. It wasn't.
According to many people, economy was GREAT in 2019, people were doing better than ever....and yet the credit card debt hit an all time high.
Most Lib voters, & some Indy's too, don't care about bad economic news, they've already proven that Nov 8th, 2022.
We've had the highest inflation in 40+ years, by definition...we're in a recession, >1/2 live paycheck to paycheck, housing is less affordable than ever, homelessness is rampant, we're $31T in debt, & less Americans are working than we had in 2000.
If you think credit card debt surging 15% will change Libs minds, this election didn't teach you anything.
Please pay closer attention & try harder to listen to what Lib voters are telling the World. WE coud alide into a depression next year, & they'll still vote Blue in 2024. Need proof? See Detroit.
^ This all day long.
Sure glad I'm financially secure and no longer needing to work.
Also very thankful I'm in my 60's and not in my 20's. Yikes, it's going to get nasty for the younger folks who keep voting for more insanity.
People deserve to get what they vote for good an hard.
I will be sitting back with my bucket of popcorn, enjoying the ****show.
The problem for the GOP is that they never offered a plan to fix the economy.
The brilliant Democrat strategy was to deflect the election issues from debt, inflation, recession, and crime, to focus on abortion, MAGA, and manufactured fear like the boogeyman of "white supremecy".
The Democrats shook a loud, shiny rattle to distract the baby's focus from their dirty diaper. The diaper is still stinky and soiled and needs changing.
I disagree. The R's DID offer to stop spending money that we don't have; stop the illegal immigration; stop the growth in crime, and other such things. This was clear to everyone, but it made no difference at all. Anyone who is willing to vote for a dementia addled candidate like Joe Biden for President had no qualms about voting for other poorly qualified candidates as long as they had a "D" after their name.
Americans supposedly were being very frugal during the pandemic. Is this surge just a return to normal buying habits?
I think it is a product of --- the previous credit card debt balance being so high (which I have provided links above) and people spending in 2021 like crazy.
I'm sure they didn't pay down that 2019 ddebt right -- and even if they were 'careful ' in 2020, 2021 was a good year for goods and services and traveling. People were pspending.
People continued to spend in the first quarter of this year.
So it's cumulative in nature. You keep adding to your debt, incurring more interest right AND the interest rate is going up and prices going up.
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