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Hassett on American consumers: "Credit card spending is through the roof. They're spending more on gasoline, but they're spending more on everything else too."

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Of course he does. His billionaire buddies are raking in the dough on these 39% interest rates on unpaid balances. He thinks impoverishing the American people is making us SUPER GREAT!

"Tell them anything"... is psychoTrump motto and the PsychoTrumpZombies does it very well apparently. Up is down East is West Cold is hot Wet is dry Sleep is Woke Dead is Alive 👀👀👀👀

What a twat. I nearly feel sorry for Trump, if this is the quality of the advisors he has around him. But then again Trump hired this lot. So no sorry feelings.

Hassett seems to think everybody is a wealthy heir, or acentimillionaire. Because those are the only people he knows/hangs out with. The fact that many are using credit to pay for ESSENTIALS, & thus setting themselves up for future interest rate debt, (that they can't afford), is foreign to him.

Bassett is such a fucking asshole. Who wants to explain spending is through the roof because prices are through the roof? I just paid the same amount for 2 tires as I did for 4 just five years ago. Not exactly a choice.

I've never seen anything like it. I mean, I know there are lots of others.... Hegseth is so punchable. But this guy and the relentless smiling is like something out of Gotham. It's creepy & you just want to end it.

Amazing they believe this reflects consumer confidence and not the increase of prices across the board due to higher fuel cost, which affects all shipped items. Plus, if people are using credit to buy everyday items, that’s not really a good thing. It usually means they don’t have the funds on hand.

They’re spending more on groceries to feed their families. They’re buying basic school clothes for their growing kids. They’re trying not to go bankrupt from rising medical costs. WTF is wrong with this moron?

He’s a useful idiot. If credit cards are fueling (pardon the pun) spending, then that means people don’t have the money to buy basic stuff. Like gasoline, food, and bills.

His brain dead boss is now asking to put another billion on his government credit card (debt) to build a combo whore house / dancehall dwarfing the WH. These people are obscene. 🤮🤮

Ridiculous take. I was taught to charge no more than what I had in my bank account, to use my credit card wisely to build credit and that the people who benefit my carrying a hefty balance are the bank/credit union. Pushing people to use cards for basic needs is like a drug dealer pushing meth 😡!

account.toaccount.to

It’s happened before and I think my pinky (because, yes I am a hunt and peck typist 😅) drags over and hits a key word. In the past I’ve deleted the post and retyped the part I want, but I didn’t catch it this morning. If you’ve got any tips I’m all ears!

It’s taught that it’s risky charging & making interest payments on those basic monthly essentials of utility & grocery needs, if not paid in full each month & it’s indicative of financial strain. It’s not like a mortgage or car payment that eventually gives you ownership of something.

Will the number of bankruptcies explode? Will that lead to people being unable to secure future credit? This has the taint of Sub-Prime, just hope the banks haven't bought the debt.

That smirk is permanently plastered on his face. He could look happy reporting the death of a kid’s puppy. Increased credit card debt is not a good thing. People are spending a lot on credit because they have less cash and everything costs more. That’s actually very bad.

The last time personal debt hit all time highs under a "create debt at all costs" Govt. drive was 2008 And that was a period of economic prosperity and low intererest rates Trump repealed most of the protections put in place after 2008, so this could lead to something bigger eventually

While there many underlying causes that led to overthrowing the monarchy and doing away with the aristocracy, the diamond necklace embodied the essence of what was wrong with the system of government. The ballroom fits that bill.

These asshats are so out of touch and it maddening to be alive and awake in this country. We need a class action lawsuit against the entire administration and its supporters for the harm done. It’s calculable and easily provable.

Now Ask him about the relevant pieces of data 1) where are delinquency rates? 2) how many people are carrying monthly balances forward? 3) consumer sentiment is pessimistic What an absolute fucking idiot

Ah, the wealthy. So used to having their debts rewarded by just getting more money handed to them that they actually believe their level of institutionalized thievery applies to everyone else.

Question for Hassett from the back: “Are those same consumers who are racking up their credit cards paying off the balance every month? Because if they’re not, 18.5% or more interest adds up REALLY quickly, making the bank’s CEO richer and American consumers much, much poorer”.

I spent 20 years to pay off one credit card. I would get close to getting it paid, then a financial crisis would hit and we would use it again, gradually adding to the running balance until we maxed it out. I put a self enforced limit on it because we couldn't make the minimum payment at times.

Until you need a car repair or to cover income, then it gets compounded by another event and the minimum payment is now impossible, so you pay what you can. Even with interest free, it's a game a catch up and it is constant. 4 or 5 times in 20 years, I paid it off. Now that I have income, paid.

MOST people I know, don’t enjoy using credit cards to defer paying the entire monthly utility bills, pay for groceries or to charge their weekly or biweekly gas station needs to get fuel in the car. I was raised to NOT make long term credit card payments on the monthly basics needed to live.

He thinks that's a good thing. Higher credit card use means Higher interest revenue which means Higher profit for credit card companies which means Higher quarterly results which means Higher dividend and stock values which means The rich profiting off your higher costs.

Agreed but the context of my comment was that people are not going to compromise their financial future with excess debt. This Trump sycophant is essentially telling us that excessive credit card spending means the economy is healthy. It’s not. People aren’t making enough to pay their bills.