For months, the Biden administration, along with the mostly-compliant media, have been saying that inflation is now under control; they’ve been bragging that wages are now outpacing inflation, and they don’t understand why ordinary people aren’t praising Biden’s economic policies.

If wages are outpacing inflation, then why don’t people have money left over after paying their bills? From CNBC just a few weeks ago:

As of October, 60% of adults said they are living paycheck to paycheck, according to a new LendingClub report. The figure is unchanged from last year.

And why are certain debts, especially those for credit cards, breaking debt records? From Investopedia last week:

• Revolving debt, mainly credit cards, rose $2.9 billion to a new record high at $1.3 trillion in October.

• Consumers have increasingly relied on credit cards to support spending as inflation squeezes household budgets.

If wages are outpacing inflation, why is the savings rate so low? Also from CNBC:

The personal savings rate — how much people save as a percentage of their disposable income — was 3.9% in August, well below a decadeslong average of roughly 8.9%, according to the latest data from the U.S. Bureau of Economic Analysis.

Why are delinquencies on auto loans surging?

The recent surge in delinquency rates on auto loans in the United States has raised concerns about the financial challenges faced by car owners.

With interest rate hikes and rising inflation, many Americans are finding it increasingly difficult to afford their monthly car payments, Bloomberg reported Saturday (Oct. 21).

The percentage of subprime auto borrowers at least 60 days past due on their loans reached 6.11% in September, the highest level since 1994[.]

Why are credit card delinquencies rising?

‘The continued rise in credit card delinquency rates is broad based across area income and region….’

Why is Biden continuing to abuse his power and dictatorially write off student loans if the economy is in such great shape? Shouldn’t these educated college kids be able to find reasonable employment and pay the loans themselves if everything really is going just fine?

The U.S. is $33 trillion in the hole, yet the politicians in Washington D.C. continue to spend, adding trillions every year, while the compliant media operatives loyally cover for the disastrous output of these policies. Ordinary people don’t appreciate Bidenomics, becuase we don’t have the luxury of spending someone else’s money with absolutely zero consequences, then skipping town when it all comes crashing down.

Image generated by AI.