26 October 2023
Bidenomics relies heavily on Federal spending and borrowing, leading to significant price hikes and market distortions. In just one month, the US Federal government accrued $600 billion in debt, with a staggering $10.47 trillion borrowed since Covid began in Q1 2020. Retail credit card APR has reached an alarming 28.93%, and credit card debt surpassed $1 trillion. Health insurance costs for families surged to $24,000 this year, the largest increase in over a decade. Despite GDP growth of 4.9% in Q3 2023, accelerating inflation is adversely impacting the middle class.