Trump economic adviser Hassett downplays Americans' cost-of-living struggles as credit card delinquencies hit 15-year high
By
Alex Nguyen
If you only eat one bagel today, this is the bagel.
Summary
The article criticizes Kevin Hassett, Trump's top economic adviser, for dismissing Americans' financial struggles amid rising costs of living. Hassett argued on Fox News that higher consumer spending indicates optimism, but the article counters that increased spending is actually a sign of distress, as people are forced to spend more due to inflation and are falling behind on credit card payments at the highest rate in 15 years.
Key quotes
· 2 pulledPresident Donald Trump's lead economic policy adviser, Kevin Hassett, dismissed Americans' struggles to cover the rising cost of living by noting that people are 'spending more.'
When the host questioned Hassett... on why folks are delinquent on credit card payments at the highest rate in 15 years, he replied, 'People a...'
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