Bidenomics Failure Worsens As Credit Card Delinquency Rate Hits 12-Year High

Whatever happened to the ‘Bidenomics’ propaganda pushed by the White House and amplified by leftist corporate media outlets? Well, that narrative quickly imploded, just like the narrative that President Biden is the ‘sharpest person in the room.’

A majority of Americans are livid with Bidenomics. They have been financially crushed by elevated inflation and high interest rates as the national debt uncontrollably soars by $1 trillion every 100 days. The economic pain is very real and has sent households into a downward spiral. Now, credit card debt delinquencies are soaring, reaching the highest level since 2012.

The Democratic Party’s propaganda machine in corporate media has spent this entire week attempting to convince the American people that Vice President Kamala Harris should be the next president of the US. From ‘saving to democracy’ to ‘young blood’ – the radical left has tried to spin all sorts of narratives this week, even rewriting the history of Harris’ past to skewing polls (see: here & here & here).

The problem with Democrats propping up the former ‘Border Czar’ is that it won’t affect the dire situation for tens of millions of voters who find themselves in financial turmoil because of failed Bidenomics. Many folks are suffering and have trouble paying shelter costs, and don’t get the American people started about food inflation at the supermarket – it’s a sour topic.

The damage to the working poor and middle class has already been realized. By the way, the pain is creeping towards high-income classes…

On Thursday, Goldman analyst Natasha de la Grense told clients, “Not a great start to earnings season in Consumer, with very few positive surprises so far. Both high-end consumption and the low-income consumer are weak.” 

With that in mind, cracks in the consumer sector are widening significantly. New data from the Philadelphia Federal Reserve reveals that the share of past-due credit card balances in the first quarter reached the highest level since records began in 2012.