Guys, we aren't in a recession, the economy is better than ever, and Biden has lowered prices and created more jobs than any President in history!
So ... why are we all still living paycheck to paycheck? Could the Biden White House be lying to us?
As of October, 60% of adults said they are living paycheck to paycheck, according to a new LendingClub report. The figure is unchanged from last year.
Overall, 4 in 10 consumers consider themselves worse off relative to 2022, the report found.
Huh, that's weird. Three years out from the pandemic and in the midst of the "best economy ever" Americans are just as bad off as they were a year ago, and 40% say they're even worse off!
And the American people. taking a cue from their government, are not cutting back. They're just going deeper into debt.
Even as credit card debt tops $1 trillion, almost all — or 96% — of shoppers said they expect to overspend this season, according to a separate TD Bank survey.
Half of consumers plan to take on more debt to pay for holiday expenses, another report by Ally Bank found. Only 23% have a plan to pay it off within one to two months.
It's the best economy ever, so why not overspend? Your earnings will catch up to your spending one day, right?
Nope! At least not in this best economic recovery ever, Jack!
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