The GOP strikes again

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Seadog

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Hey this coming from the same folks that today crowed about our economy being in good shape and pointed out the fact that even with the "minor" slowing in the economy that people were still spending at a rate of 11% more than this time last year. That indicates a "vibrant growing economy". Man! You wouldn't believe the amount of democrats that said "See, we told you so"!!!!!!....... Well untill someone pointed out of course they are, because INFLATION IS JUST ABOUT 11%!
The original toxic exposure bill started at 38 billion, you know the one that had bipartisan support, magically it is now 480 billion in just ONE short week!
I agree with you. They play games on the inflation numbers. Yeah people are spending more, and getting less. Thanks to government inflation. I hate Democrats more and more. All word games. They are all POS
 

SlugSlinger

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I agree with you. They play games on the inflation numbers. Yeah people are spending more, and getting less. Thanks to government inflation. I hate Democrats more and more. All word games. They are all POS
Another thing about the spending increase is that credit card debt has increased to record highs and savings to record lows. Yes, people are spending more, but it’s because they are using debt instead of income or savings. They’ve already spent the savings.
 

SlugSlinger

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Updated Tue, Jul 26 2022
https://www.cnbc.com/select/us-credit-card-debt-hits-all-time-high/

Credit card debt in the U.S. hits all-time high of $930 billion—here’s how to tackle yours with a balance transfer​

U.S. credit card debt hit a record $930 billion with younger Americans having the highest delinquency rate.​

Quick facts: Credit card debt and delinquency rates​

  • U.S. credit card debt hit an all-time high of $930 billion
  • Debt surpassed the $870 billion peak during the 2008 financial crisis
  • Credit card delinquency rates increased .16% from the prior quarter to 5.32%
  • Younger Americans (18 to 29) have a 76% higher delinquency rate than anyone else

U.S. savings rate hits lowest level since 2008 — here's why economists aren't concerned​

Myles UdlandMay 27, 2022
With inflation surging and pandemic-related stimulus rolling off the books, U.S. savers are under pressure.

In April, the U.S. personal savings rate fell to 4.4%, the lowest since September 2008, according to data from the Commerce Department published Friday.

https://finance.yahoo.com/news/us-savings-rate-hits-lowest-level-since-2008-144126366.html
 

SlugSlinger

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It’s a shame
And the sad thing is a lot of people are going to lose their jobs when we get deeper into this recession. It’s a shame we don’t have an honest media or government. Those folks are telling everyone things a rosy. When reality is the economy is heading towards a depression and things are going to get much much worse.

And we have a press secretary who is telling people that we are not in a recession and making up new definitions of what a recession is. It’s pathetic!

Skip ahead about 35 seconds.

 

Gideon

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I accept any and all criticism of the Jobbers at the GOP, except when it comes from the likes of Jon Leibowitz.
 

VarmintHunter59

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HoLeChit

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And what would John Stewart know about the burn pits in Afghanistan? I worked around/in one for two years.
He did some sort of documentary show on Apple TV about it. Worth a watch, I learned more about burn pits and their effects than I ever did from the VA. In the show he speaks with veterans, doctors, the director of the VA, and some veteran owned nonprofits that deal with burn pit stuff. It’s worth a watch. I dislike the guy quite a bit, but I feel that episode presents some good facts.
 

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