No matter how she tries to escape it, Vice President Kamala Harris is linked to the failed economic policies enacted as part of the ‘Biden-Harris administration’ say observers, and that includes the failed “Bidenomics” agenda of the lame-duck president.
New information shared by the Federal Reserve Bank of Philadelphia showed that Americans are having a tough time making their minimum credit card payments in the first quarter of 2024, Yahoo Finance reported.
Credit card delinquency rose in the first quarter of 2024 to levels it had not reached since 2012 as 30, 60, and 90-day delinquencies all rose.
“The proportion of card balances that were more than 60 days past due at the end of March climbed above 2.5%, more than double the lows seen during the COVID-19 pandemic when huge amounts of government stimulus helped keep Americans afloat,” the report said.
“The number of total credit cards dipped during the first quarter, in line with seasonal trends, but total revolving balances hit a record $628.6 billion. Revolved balances as a share of total outstanding balances are now at 71%, the highest level since 2021,” it added.
Many Americans are using credit cards because they cannot keep pace with inflation, which many believe was caused, in part, by President Biden’s stimulus package, which Harris cast the tie-breaking vote for, Just The News reported.
The outlet explained:
The U.S. inflation rate was 1.4% in 2020, then jumped to 7% in 2021. President Biden repeatedly said he “inherited” a 9% inflation rate, which CNN called false.
According to a Pew Research Center poll from May, 62% of U.S. adults said that inflation was “a very big problem for the country.”
The poll was conducted May 13-19 of 8,638 U.S. adults with a margin of error of plus or minus 1.5 percentage points.
Florida Republican Rep. Byron Donalds spoke to the John Solomon Reports podcast on Tuesday and said that Harris “was the deciding vote in the Senate that unleashed this massive inflation on the American people. The Senate was tied 50-50. She voted for the American Rescue Plan in the Senate to break that tie. And then what happened was this massive inflation – which has hurt every working-class American, every senior on a fixed income – that is squarely on the shoulders of Kamala Harris.”
Former President Donald Trump’s ex-economic advisor, Stephen Moore, spoke to Just The News and said that a “good development for Trump” is that “instead of running away from the Biden agenda, (Harris has) wrapped herself around the Biden economic catastrophe.”
“She is not saying she wasn’t for this stuff, she’s for it, embraces it, thinks it’s a big success, thinks the border is a big success. Let the American people decide what they think,” he said.
He said that average family earnings when Trump was president were $5,500 per week but with Biden in the White House those earning have dropped by $2,100.
“We had a pretty booming economy under Trump before COVID,” he said.
Bobby Charles, the national spokesman of the Association of Mature American Citizens, also appeared on The John Solomon Podcast and said that the vice president bears as much responsibility for the administration’s failed economic policies as Biden does.
“In the economy, look, she owns this. She and the president, who she defended with lies for the duration of the last three and a half years, own this entire failure,” he said.
“She was in the room – a vice president is always in the room when it came to not only her role prior to this, but her role in the context of being a co-decision maker on virtually all the policy matters,” he said. “I mean, I’ve read accounts, more recently, kind of historical, going backward showing 15 or 20 of the absolute worst decisions this administration made, that she was very much a part of.”
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