9 August 2023
Under the weight of soaring inflation, attributed to Bidenomics, US citizens are being forced into deeper credit card debt, which has alarmingly surpassed the $1 trillion benchmark. Mismanagement by The Federal Reserve coupled with reckless Federal spending has been a significant driver of this economic quagmire, with core inflation stubbornly remaining at a high 5.63%. Drawing a parallel between credit card debt and The Fed’s balance sheet reveals the depth of the crisis. Moreover, the combined weight of credit card and auto loan balances has skyrocketed to an unprecedented $1.6 trillion.