Nailed it. Imagine just interest on the massive debt Democrats don’t care about at over a trillion dollars and our governments costs hitting 6 trillion. It is mind boggling and brought on by politicians who know nothing about finance or how the real world operates.
To Democrats, this is all about power and the struggle to maintain it by lying to, and gaslighting their constituents by promising them free stuff.
But nothing comes free. It comes at a very high cost.
How much will the Federal Reserve cut interest rates when Chairman Jerome Powell makes his announcement Wednesday?
That’s the predominant question business reporters have posed this week — but it’s the wrong one.
Why?
Because the Fed is in a lose-lose scenario whatever it does: No matter how big or small the cut, it will produce more financial pain for American families.
That’s especially troubling given how much people’s budgets are already stretched amid the current cost-of-living crisis.
The dollar has lost one-fifth of its value in less than four years, and families have racked up over $1.1 trillion in credit-card debt trying to make ends meet.
The deadly combination of high outstanding balances and high interest rates means that, for the first time ever, Americans are paying over $300 billion a year just in finance charges on their credit cards — before putting a dime toward the amount owed.
It’s a similar situation in the housing market, with record-high home prices and interest rates almost three times their level from four years ago.
Potential homebuyers now have to borrow much more, and must pay a premium to do so.
That’s why the monthly mortgage payment on a median-price home has doubled since the start of the Harris-Biden administration in January 2021.
nypost.com
To Democrats, this is all about power and the struggle to maintain it by lying to, and gaslighting their constituents by promising them free stuff.
But nothing comes free. It comes at a very high cost.
Fed’s follies mean interest-rate cut won’t ease our economic woes
How much will the Federal Reserve cut interest rates when Chairman Jerome Powell makes his announcement Wednesday?
That’s the predominant question business reporters have posed this week — but it’s the wrong one.
Why?
Because the Fed is in a lose-lose scenario whatever it does: No matter how big or small the cut, it will produce more financial pain for American families.
That’s especially troubling given how much people’s budgets are already stretched amid the current cost-of-living crisis.
The dollar has lost one-fifth of its value in less than four years, and families have racked up over $1.1 trillion in credit-card debt trying to make ends meet.
The deadly combination of high outstanding balances and high interest rates means that, for the first time ever, Americans are paying over $300 billion a year just in finance charges on their credit cards — before putting a dime toward the amount owed.
It’s a similar situation in the housing market, with record-high home prices and interest rates almost three times their level from four years ago.
Potential homebuyers now have to borrow much more, and must pay a premium to do so.
That’s why the monthly mortgage payment on a median-price home has doubled since the start of the Harris-Biden administration in January 2021.
Fed’s follies mean interest-rate cut won’t ease our economic woes
The Fed is in a lose-lose scenario whatever it does: No matter how big or small the cut, it will produce more financial pain for American families.
nypost.com
