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Biden's Crushing Inflation Spikes Household
Credit Card Debt to New Heights

Original Article

Posted By: ladydawgfan, 11/25/2022 8:44:51 AM

The Biden administration has worked overtime to gaslight Americans into believing everything is totally fine when, in fact, everything is not fine. As a matter of fact, it’s getting worse by the day. And by “it’s,” I mean everything is going south. The latest indication of yet another looming economic crisis — and no, I’m not talking about the developing housing crisis, the diesel fuel crisis, the home heating oil crisis, the inflation crisis, or the illegal immigration crisis — was revealed in a startling report this week regarding total household credit card debt, which has now increased by the most in 20 years, rising a staggering 15% from last year.

Comments:

I don't have credit cards. I had them in college and found myself overwhelmed by the debt. I was able to get myself out of that situation through a lot of hard work and hard choices, but now I'm not financially in a position to carry them. Family members say, "What about in an emergency?" Well, when all you have is a hammer, everything is a nail! When all you have is a credit card, everything is an emergency! I have a feeling that bankruptcy attorneys are going to have a field day with the results of Biden-nomics on American debt loads!!

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Reply 1 - Posted by: lakerman1 11/25/2022 9:10:36 AM (No. 1341925)
Two observations. First, I am astonished by the number of credit cad pfers I get each week. And I alsowonder how long these credit card companies can sustain those 'per cent back' offers. As my late brother would say, 'that don't make no sense.' Second, while we use credit cards in the Lakerman household, Mrrs. Lakerman makes it almost an olympic sport to never pay interest on a credit card bill~ and she is good at it. She even found a way to stop the cedit card billing stunt where if your payment is at all delayed in the mail or somehow doesn't get logged in on rime at the credit card company. She does something on the phone with the bank and credit card company to make the payment. No late charges, no postage costs. And proof of on time payment in hand.
7 people like this.

Reply 2 - Posted by: Mizz Fixxit 11/25/2022 9:17:47 AM (No. 1341938)
The skyrocketing consumer debt is predictable, as the Biden crime family is cozy with credit card companies and big banks.
5 people like this.

Reply 3 - Posted by: MDConservative 11/25/2022 9:56:34 AM (No. 1341968)
What that credit debt represents is American fiscal irresponsibiity. How much of that debt is taken on for necessities out of an inability to pay immediate cash, versus how much is simply more consumer spending on stuff? I would bet heavily that the preponderance is spending on stuff. Want a tattoo? Put it on plastic, collect the points, maybe get a few bucks back. Americans will wear out that RFID chip given the possibility. Fear porn comes in all sorts, and this is more of it. We're not all going broke by abusing credit, nor forced to buy groceries with plastic floating the interest.
2 people like this.

Reply 4 - Posted by: jalo1951 11/25/2022 10:04:55 AM (No. 1341974)
I do not have any credit cards and am very thankful that I paid them all off years ago and have never accepted any of the "credit card deals" that are pushed on me via the post office deliveries of such offers. People look at me like I have a horn growing out of my forehead when I tell them I don't use credit. I in turn look at them when they tell me the balance on their cards.
3 people like this.

Reply 5 - Posted by: bighambone 11/25/2022 10:29:39 AM (No. 1341999)
If you are smart enough you will wait about 6 months when the new car inventories are back up, with a lot of people because of excessive Biden caused debt, credit card and otherwise, chances are new car dealers will probably be back to dealing again to reduce their new car inventories.
3 people like this.

Reply 6 - Posted by: Grateful 11/25/2022 10:46:45 AM (No. 1342010)
Everything is going "south" under the FJB mal-administration except for illegal aliens.
2 people like this.

Reply 7 - Posted by: zephyrgirl 11/25/2022 12:09:22 PM (No. 1342053)
I use two credit cards, but pay off the entire balance every month. I haven't paid an interest charge in years. I froze my credit reports a few years back and now seldom get credit card offers in the mail. I was surprised to get one recently from my bank. It went straight into the shredder. The best way to survive a recession is to have no debt.
6 people like this.

Reply 8 - Posted by: Penney 11/25/2022 12:14:23 PM (No. 1342057)
Who can ever trust a dem/RINO to vote for America?! ....Still waiting. 🙄
2 people like this.

Reply 9 - Posted by: Penney 11/25/2022 12:24:17 PM (No. 1342068)
Oops! Sorry for the icon in my post above.
2 people like this.

Reply 10 - Posted by: Mizz Fixxit 11/25/2022 12:51:04 PM (No. 1342081)
No apology necessary, Poster 8. I owe multiple apologies for leading Ldot in typos.
4 people like this.

Reply 11 - Posted by: mc squared 11/25/2022 12:55:05 PM (No. 1342086)
Personal debt is a pittance compared to our national debt. Mostly to the CCP.
3 people like this.

Reply 12 - Posted by: mifla 11/26/2022 4:42:04 AM (No. 1342376)
The worst part is that our lords and masters in DC do not care.
0 people like this.

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