U.S. shoppers are adjusting their spending habits in response to inflation, particularly at grocery stores where they are buying less food. Concurrently, online shopping behaviors are shifting as consumers navigate rising prices. The broader economic landscape is concerning, with U.S. consumer spending patterns indicating a potential consumer-led recession. Additionally, U.S. credit card debt has surpassed $1 trillion, driven by 'revenge spending' as Americans deplete their savings. The national debt is also a pressing issue, with the federal deficit projected to hit $1.9 trillion this year, exacerbated by aid to Ukraine and Israel. Interest on the national debt now exceeds defense spending, raising alarms about the country's financial stability and its future as a global superpower. Treasury bills stock nears $6tn, and 70% of American households' debt is in their homes. Historian Niall Ferguson warns that the U.S.'s global status could suffer.
How America racked up a $1 trillion credit card bill https://t.co/nfZDQZy4gp
Even with no estimated recession, Fed support and record tax revenues, US debt is expected to soar to 122% of GDP, according to the @USCBO Insane. https://t.co/e18IU5M7FT
U.S. outstanding Treasury Bill debt is expected to reach an all-time high of $6.2 Trillion by the end of the year, according to JP Morgan https://t.co/N58t03babA
It took us 200 years to add $1 Trillion to our federal debt. Now the US is adding $1 Trillion every hundred days. Seems like we have a spending problem. How is this sustainable? What's the solution?
$2T in red ink: Foreign aid, Biden’s student loan policies hike U.S. deficit forecast https://t.co/kruZ7JkqfK via @politico
ICYMI: In 2025, spending on US interest (3.4% of GDP) will surpass the budget deficit on everything else (primary deficit of 3.1%). And it will never shrink again https://t.co/h27TIj91WA
The US Congressional Budget Office warns that the aid packages to Ukraine and Israel would help push the US deficit this fiscal year to $1.9 TRILLION. The wars in Israel & Ukraine are starting to BITE. https://t.co/zetxf7pUcC
To put it in perspective, this year, our government is paying $12,000 per taxpayer more than it is collecting in revenue. The Federal Debt (excluding SS/Medicare liabilities) is $218,750 PER TAXPAYER, and growing...
Americans are falling behind on their credit card payments at a level not seen in more than a decade amid high interest rates and persistent inflation, but some cities have far higher average debts than others, a study found. https://t.co/lIUIwgz28W
RECKLESS GOVERNMENT SPENDING = THE US IS DROWNING IN DEBT. Under the Biden Administration, budget deficits have SOARED. In 2024, government spending is expected to outpace revenue by nearly $2 TRILLION. BIDENOMICS IS FOR THE BIRDS. https://t.co/aCkqlFGLAW
Federal interest payments now exceed the defense budget. That’s before refinancing $14 trillion in debt in the current rate environment. The Federal Government could spend $1.2 trillion on debt service this year. Do you think this is the strongest reason for why the Fed will… https://t.co/NFjZnKBLxR
"The United States will soon break a record that has stood for 78 years. Because the record has to do with federal debt, however, this is not a cause for celebration." From the Editorial Board: https://t.co/OLVi8AH3LT
“Any great power that spends more on debt service (interest payments on the national debt) than on defense will not stay great for very long. True of Habsburg Spain, true of ancien régime France, true of the Ottoman Empire, true of the British Empire, this law is about to be put… https://t.co/1hwEsaYUuk
Credit card debt is soaring, especially in these cities https://t.co/22z6i36Cpt
THE US DEBT IS NEAR $1,000,000 PER AMERICAN: WHERE THE MONEY WENT AND WHY IT MATTERS TO YOU (MSN) America has a problem: We, as a country, are in a massive money hole. It’s one of many issues the nation is currently facing and attempting to figure out a solution forward. While… https://t.co/1C8qBNdIxE
$35 trillion in debt US govt over $2 trillion per year in deficits Giving away hundreds of billions of $$$ every year to foreign govts in foreign aid and military aid. How does this end? https://t.co/YiYBPHNv7r
🇺🇸 US shoppers tighten their belts in a most unlikely place: the grocery store https://t.co/41lZS6Pfqk
IMF warns the US: Get the gargantuan debt under control #Paywall https://t.co/B0NF9otK8y
US #consumer spending has slowed from its start-of-year clip, but remains solid thanks to income gains: 70% of American households’ #debt is in their homes, and over 90% have fixed-rate #mortgages, keeping overall debt burdens low, chart @JPMorganAM https://t.co/54Jzx7PWMg
Will Debt Sink the American Empire? - "Washington has been adding to the national debt at an alarming pace... This year, it will be some $1.9 trillion in the red" - "The debt will reduce income growth by 12% over the next three decades" https://t.co/9TlSx195y2
Americans are spending big with credit cards. Here's what that means for the possibility of a recession https://t.co/4epQLnkWms
THIS TIME WON'T BE DIFFERENT A debt crisis is inevitable if current trends continue. The Congressional Budget Office (CBO) projects US federal debt will reach $50.7 trillion by 2034, equaling 122% of GDP. https://t.co/O76G1lQtTC #economy #EconomyNews #EconomyMonetary… https://t.co/maIisRVpXr
US DEBT CRISIS: AMERICAN SUPREMACY ON BRINK AS HISTORIAN RINGS ALARM (MSN) American supremacy is on the line as a historian has issued a dire warning about the impact debt could have on the country. Professor Niall Ferguson has warned the US's global status would suffer… https://t.co/K3WgxUbC0E
The report from the Congressional Budget Office released earlier this week painted a bleak picture as this year’s deficit is projected to hit $1.9 trillion, $400 billion more than initially predicted. | By @gitanjalipoonia https://t.co/D6akSPJqSg
mountain of debt, predicts the Daily Mail Historians and analysts warn: America will lose its superpower status for the same reason as its predecessors. It will be buried under a mountain of debt that politicians conveniently ignore, writes the Daily Mail. “Any great power that… https://t.co/5H4DT8OZNV
"From the bakery aisle to the dairy case, and the meat counter to the ice cream freezer, surging inflation for groceries has brought about an unexpected reality: Americans are buying less food at the store." https://t.co/2mWKVefOEr
"Revenge spending" drives US credit card debt past $1 trillion. Americans have spent down their savings and racked up debt as the economy hums along, but experts are pondering whether consumers can keep going. https://t.co/5xGXK08OeC
"Any great power that spends more on debt service than on defense will not stay great for very long. This law is about to be put to the test by the U.S. beginning this very year." -@nfergus https://t.co/ZFg3QZbj01
Chart from economist Niall Ferguson. Interest on U.S. National Debt is now greater than defense spending. The fiscal collapse of the United States is not far away. https://t.co/SVTX1OV6kl
.@GeraldFSeib Will Debt Sink the American Empire? @WSJopinion https://t.co/ALrRczOvs0
Americans' spending patterns are flashing a warning of a possible consumer-led recession https://t.co/h51Vj4EOii
🇺🇸 Warning Over US Borrowing Binge ▫Short term finance fears ▫Deals for Israel and Ukraine bite ▫Treasury bills stock nears $6tn ▫@kateduguid #frontpagestoday #USA @FT 🇺🇸 https://t.co/XjM4nkOh9k
🇺🇸 Online shoppers are shifting habits in the face of inflation https://t.co/djYSMkFGaZ
US shoppers tighten their belts in a most unlikely place: the grocery store https://t.co/7imUs1064Q