The economic state of the world is currently in a bad shape. For most parts of the world, we are seeing a recession headed straight towards us in 2024. This is also reflected in higher end consumer goods where brands are falling behind their sales target. European and Asian countries are more or less facing the same thing as America.
However, Breitbart states, In President Joe Biden’s America, a recent LendingClub study revealed that a majority of Americans struggle paycheck to paycheck, casting doubt on the efficacy of “Bidenomics” in aiding the average citizen. The study highlights concerns echoed in polling, with only 14% feeling Biden’s economic policies have benefited them, while 85% perceive them as ineffective or even harmful.
Despite credit card debt exceeding $1 trillion, a TD Bank survey shows 96% of shoppers plan to overspend during the holidays. Half intend to take on more debt, with just 23% having plans to pay it off within one to two months.
Amidst these economic challenges, a Wall Street Journal poll reveals that 49% of voters believe former President Trump’s policies favored them, raising concerns over Biden’s approval ratings and policies’ efficacy.
X users discussing how Christmas is unaffordable for them
You have to serve family and yourself
Not spending money on occasions won’t make you less attractive
It means you are responsible
And you know where to use your money effectively
— Kumkum (@kumkum_005) December 19, 2023
Apparently, several X users are discussing that they should not overspend on this Christmas. Furthermore, Americans are still in debt from the last festive season, which shows how the occasion is impacting the consumers’ wallet. For the most part, many are discussing ways on how to save money during this occasion.
Sadly this is going to be a better Christmas economically because households are going to go further into debt for a little bit of happiness.
— RohlintheWretched (@RohlintheWretch) December 12, 2023
Others are discussing on X with regards to how expensive things have gotten since 2022. A video shows how expensive things have gotten and many are sharing their sympathies to the families who are barely making it by with these new prices. Concerns are shown towards those who are more than willing to get into debt in order to have the perfect Christmas.
Read More News
The post Are Americans “too poor” to celebrate Christmas thanks to Bidenomics? appeared first on The Independent News.