Posted on 08/29/2023 2:50:22 AM PDT by Libloather
In the midst of President Biden’s campaign to sell "Bidenomics" to American voters, Vice President Kamala Harris made a curious admission. Speaking about the costs of getting an abortion (so not Bidenomics), she stated that "[m]ost Americans are a $400 unexpected expense away from bankruptcy."
Of course, as with most dramatic White House economic claims, it wasn’t exactly true. But you have to give her credit for raising a counter-narrative the Biden administration is otherwise choosing to ignore.
The fact is that American families are in trouble, deep trouble, and it’s far more significant than any Bidenomics spin can conceal.
Harris’s point comes from a recent Morning Consult survey which found that in the third quarter of this year only 46% of Americans could cover a $400 unexpected expense without going into debt. That’s not the same as being $400 away from bankruptcy, but it’s still really bad. It shows how expenses as commonplace as a surprise car repair or a medical bill are forcing many American families into debt – at a time when interest rates are disturbingly high.
It also raises a very disconcerting question: Is this the new Bidenomics normal? Let’s look at the data.
The Lending Club’s Paycheck-to-Paycheck Report for June confirms the Morning Consult survey. It found that a majority of Americans (54%) were living paycheck to paycheck. That includes 53% of consumers who earn $50,000 to $100,000 per year. So, this problem extends well beyond lower-income families, although it certainly hits you harder the less you have.
(Excerpt) Read more at foxnews.com ...
Yes, these liars know what they are doing.
The Disastrous Joe Biden Administration
No price is too high for no mean tweets I guess.
Well it’s inflation in everything. I also think they are flatly lying about the rates, it’s no 5% say double or triple that.
Here is a true story to back that up.
Wife and I were talking about our big 70 gallon hot water heater, it’s 8 years old.
I found the receipt from 2016 and it was about 800 dollars, installed. Then I looked up the cost of the same water heater in 2020 and it was 1100 not installed.
Now the good part….
Today a 70 gallon electric water heater is about 2500 uninstalled!!!
So under Trump it raised 300 in 4 years or about 75 dollars a year. Under Biden it’s raised 1500 in 3 years or 500 dollars a year!!!
The Destroying-America Traitorous Demonicrat Kakistocracy!
The same $8K AC/furnace I recently bought was under $4K in 2020
As a senior saint on fixed income, I'm overly fanatical about auto fluids . . I cannot afford a transmission or whatever.
Actually, I CAN . . . because my mechanic is a brother in the Lord and we have a perfect relationship, professionally and as family.
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