Bidenomics and Credit Card Debt

You can vote your way into socialism, but you have to shoot your way out.

By Robin Itzler

Editor's Note:  This is one of the commentaries selected from Robin's weekly newsletter Patriot Neighbors. Any cartoons appearing will have been added by me.  If you wish to get the full edition,  E-mail her at PatriotNeighbors@yahoo.com to get on her list, it's free.  RK

 

  

Getting the truth about Joe Biden’s economy from Joe Biden is like spitting into the wind and expecting to avoid getting wet.  It will not be heard from by Joe Biden, he and the Democrats spin, twist, distort, and obfuscate in order to give the impression everything is just dandy, he's created "new" jobs, as  Sen. Rick Scott shows is simply another lie.  

With Joe Biden eating ice cream in the Oval Office, anyone who wants to purchase a house in 2024 will spend one-third to one-half MORE on their monthly mortgage payment compared to what they would have spent when Donald Trump was in the White House. Interest rates on 30-year fixed-rate mortgages are now between 7 and 7.5 percent. In 2020, 30-year-fixed rate mortgages averaged 3.38 percent, according to Bankrate data.

$500,000 home at 7.5 percent = $3,496 monthly mortgage.

$500,000 home at 3.3 Percent = $2,190 monthly mortgage.

What are Americans to do?

Charge everything! Use plastic money! According to Lending Tree, the average credit card interest rate is a huge 24.66 percent. Thanks to Joe Biden and Democrat policies, credit card debt is soaring. According to a survey by Scholaroo, a national firm that matches college students with potential scholarships, the U.S. national average for credit card debt is a whopping $6,555.

New Jersey: has a massive average credit card debt of $8,155.

Mississippi: is the lowest with a still very high $5,295.

Do you think people with this large amount of debt are paying just the monthly minimum?  

GUESS!  500,000 disappeared in America?  

Half a million—that’s an alarmingly large number and yet the Biden administration doesn’t seem to care that 500,000 are gone. Kaput! No más! Farewell! No matter how much we look, these 500,000 might be gone forever. 

So then, what disappeared? 

Full-time jobs are disappearing When the Bureau of Labor Statistics announces its monthly jobs report, it includes ALL jobs—both part-time and full-time. However, over the past year 500,000 FULL-TIME jobs have disappeared. The jobs growth the Biden administration keeps touting is from part-time positions. The jobs report is a game that sadly deceives most Americans. 

 “Well That Didn’t Work”.  How's that for a title to a book about communism?