17 trillion in debt.... Consumers just love to consume here in America. Its the only thing they know how to do.....surprisingly the last gdp results were good considering how many trillions consumers are in debt for.....let's see how many more trillions we can add to that pile !!! These consumers must be bank rolling these heavy purchases with all these unlimited stock market gains!!! Maybe they all own AI stocks , cashing out profits and buying everything from lattes to hoka sneakers!!!!
I know a lot of people who are getting supplemental help from their baby boomer parents. That explains a lot of people I know that seem to be living beyond their earning potential. I have no clue what the statistics are for that situation though.
Amazing that credit card grew by 4.4% in 3 months and looks like the masses have wised up to the higher education scam and only increased student loans by 0.125%.
And Biden just took it to a different level. There is "handing out temporary cash relief funds" and then there is "showering people with just free money".
President Trump signed a $2.2 trillion stimulus program while Biden only signed into law a $1.9 trillion stimulus package so number wise, Trump's stimulus package does seem to be bigger but the circumstances under which the two stimulus packages were implemented were different. Trum's stimulus package implementation time was during the early phase of covid when we were still battling the disease with no vaccines developed and no prospect of when the disease is going to be under control so funds had to be injected into the economy to support the economy while the scientists figure out how to combat the disease. With Biden it's different. The most dangerous phase of covid has passed; vaccines were not only developed but also widely administered worldwide and the disease was clearly being brought under control. Instead of handing out more money on top of the $2.2 trillion stimulus funds that were already being handed out which directly contributed to the inflation problem, he should've done more to encourage people to go out to work to increase productivity especially with the remote working structure that's already established.
I did not take it to be your opinion...It looked like you were typing facts about the COVID. So sick of COVID... "...going to be under control so funds had to be injected into the economy to support the economy while the scientists figure out how to combat the disease. With Biden it's different. The most dangerous phase of covid has passed; vaccines were not only developed but also widely administered worldwide and the disease was clearly..." I'm sorry, but COVID is OVER! It is DONE! NO MORE! FINITO!