US Credit Card Debt Reaches Insane Levels

Over the last several years, Americans have truly endured a series of economic and cultural hardships. The 46th president, Joe Biden, has truly made a mess of things in nearly every regard of governance. Economically, the middle class of the United States has faced a serious issue. Rampant inflation has crushed the working class and was caused at least in part by President Biden and the Democrats promotion of massive spending packages. Trillions of dollars in new federal spending was enacted early in Bidens term, and the carryover effect has been devastating. Now, 60% of Americans are estimated to be living paycheck to paycheck. In even more alarming terms, in 99% of the nation individuals making the median income will find that home ownership is nearly unattainable as housing prices have skyrocketed since the COVID-19 pandemic fueled real estate boom. Truly, the individuals suffering the most under these economic trends include seniors and elderly retirees on fixed incomes, and young people hoping to start a life and career for themselves who are now being forced to work multiple jobs simply to cover basic expenses. Recently, U.S. credit card debt soared to $1.13 trillion dollars and increased by 50 billion dollars in the fourth quarter of 2023.

Many of Bidens most glaring failures have come on the international level, where no number of distractions or consumerist holiday trends can distract individuals from his shortcomings abroad. Under Bidens watch, Russia invaded Ukraine in 2022 after the president removed sanctions on the Kremlin which may have emboldened Moscow to take action. In the middle east, Biden oversaw a botched American withdrawal from Afghanistan where 13 servicemembers perished in late 2021. In the fall of 2023, Israel went to war with Hamas (a Muslim terrorist group) and the conflict has escalated in the region. Recently, a cease fire was reached between both sides, but Bidens weak handling of the situation continues to plague him.